Economists are thoroughly versed with techniques of market entry/exit depending on type of market being dealt with. Experts realize that it is not always advisable for new businesses to enter or exit a trade unless they are prepared. Quite the same way, currency market poses lot of contradiction on when/where to enter or exit a particular market. This is where trading systems barge in and aim to provide information on perfect entry/exit points. Forex D O T S method aims to guide traders on when to enter/exit a market.
This method aims to show valuable intimation on market conditions and displays target levels at the beginning of a trading session. Thus regardless of your trading experience, traders aim to keep a check on daily price movements using certain parameters.
How does Forex D O T S indicator work?
One prime advantage of currency trading is that location hardly matters when it comes to trading. Irrespective of whether you are trading in Australia or India, you can concentrate on your trading needs and buy/sell entry signals.
DOTS work on the simple principle of placement of trades and setting appropriate buying/selling levels. After doing the necessary opening or closing of full positions, this indicator ponders on retracement levels if any.
If prices retrace back to Daily Open positions, traders might want to reenter the market and take appropriate actions. This system uses Dynamic trader index to confirm the detection of trend and direction the market is heading to.
Why consider opting for Forex D O T S?
• Standalone trading indicator:
One of the major advantages of using this indicator is its ability to perform without any additional support. It does not require using any lagging or forward looking indicators with it.
• Identifiable Buy/Sell positions:
Unlike most other indicators it does not detect trend detection and its direction. It provides assistance on buy entry/exit targets. Similarly, in case you are planning to sell your position, it allows that as well. It allows traders to set certain stop loss levels as well.
• Detection of trends and finding spreads:
In order to find out the direction of the trend, Forex Dots utilises special SMA techniques. Additionally, it uses Average daily range usage techniques to detect which way prices are heading to, irrespective of market conditions. Sometimes it becomes difficult to identify the level of spreads that you are bound to. DOTS effectively manage your account and display all information.
• Customizable and user-friendly:
Apart from dealing with trading technicalities, Forex D O T S work with any MT4 based platform. Plus it is easy to customize and does not interfere with trading systems irrespective of other factors. Additionally, it takes up extremely small space in your workstation thus easing your trading.
Installing and using Forex D O T S is as easy as it gets. Make sure that you read the basic instructions and then proceed. Additionally, you can also customize your indicators including the change in GMT time frames. Install the respective DLL files into your MT4 EA folder and you are done!
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.