Irrespective of your choice of indicator to initiate your trend detection, a single indicator cannot serve all the purposes. While some can detect potential support and resistance levels concerning certain time period, others can detect précis entry exit points to aid your trading system. Be Forex guru indicator incorporates the positive points of many indicators and makes analysis much simpler. It keeps you from following a series of indicators and works well with the volatility of currency pairs irrespective of the time you are working on.
Principal aim of this indicator is to detect precise price movements in the European session, chiefly. It is compatible with all major currency pairs. It works on MetaTrader 4 and works best on higher time frames. As a thumb rule, it is advisable to buy when arrow on price chart points green up.
Why is ‘Be Forex guru indicator’ considered the guru of all indicators:
Basically, it blends the sugar, spice and everything nice that principle Forex indicators contain. It provides precise signals for buying and selling and offers exact entry/exit points. It has got separate target points for each timeframe.
It offers sharp indications of buying or selling depending on ranging market movements. It is easy to understand given the uncluttered approach of defining relative price movements. Although experts recommend using this within a trading system, it acquires positive qualities of being one.
Precise instructions according to your trading requirements:
Traders often waste much of their time and effort in understanding potential buying/selling channels. Since moving averages play an important role in measuring the divergence/convergence of a trading system of prices, it is advisable that one uses Forex guru indicator to measure it in actuals.
Instructions for buying/selling:
Traders call it a successful buying indication when moving averages cross a certain point of importance. Trends moving in regular directions often shows breakouts, and that may result in a trend break. While Elliott Wave theory and other oscillatory mechanism aid in providing precise price bounces, it is difficult to predict that in accurate terms.
• Forex guru indicators give a positive green signal in correspondence to moving average movement. Only then it is advisable to buy your position. Irrespective of the market condition, you should also take care of market emotions by detecting trader’s psychology.
• Similarly, traders should go for selling when Be Forex guru indicator offers red signal. Often there are longer periods of red signal on your price chart. Veterans recommend setting appropriate stop losses keeping in mind your target and timeframe. Thus for higher time frames, one requires a higher stop loss if you have a fairly high target pip.
Be Forex guru indicator works best with EUR/USD, GBP/USD and USD/JPY. Some recommend trading in Asian session when trading with Be Forex guru. Additionally, it needs a working knowledge of understanding strategies for a week. Back testing is important in order to check its credibility. One of the chief advantages of this system is that it also detects potential signal reversals prompting traders to act immediately.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.