Forex Reversal Indicator for MetaTrader 4 – Download FREE
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Forex Reversal indicator is one of the most reliable reversal indicators. It shows yellow dots coated in red and blue rings on the charts. The yellow dot in red rings appears at market tops to indicate a potential reversal to downtrends. Blue rings around yellow dots suggest a potential reversal to the uptrend.
Description
What is the Forex Reversal Indicator? The Forex Reversal indicator is an indicator that identifies trend reversal in the market. It is really good at spotting when a trend might flip. It uses yellow dots with red and blue rings on charts. A yellow dot in a red ring means the market might start going down soon. And if you see a blue ring around a yellow dot, it could mean the market is about to go up. This indicator is in the TOP 10 indicators which show trend reversals and is suitable for intraday trading. Among the many trend reversal indicators in the MT4 community, some aren’t good, but others are great. The Forex Reversal indicator is a great indicator to identify the reversal of trends in the market.
Distinguish between Reversal and Retracement
Understanding the difference between retracements and reversals can help you make fewer losing trades and maybe even make some winning ones. There are several key differences in distinguishing a temporary price change retracement from a long-term trend reversal.
| Retracement | Reversals |
| Usually occurs after huge directional price movements. | Can occur at any time. |
| Short-term, short-lived reversal. | Long-term price movement |
| Fundamentals (i.e., the macroeconomic environment) do NOT change. | Fundamentals DO change, which is usually the catalyst for the long-term reversal. |
| In an uptrend, buying interest is present, making it likely for the price to rally. In a downtrend, selling interest is present, making it likely for the price to decline. | In an uptrend, there is very little buying interest forcing the price to fall lower. In a downtrend, there is very little selling interest forcing the price to rise further. |
How to Trade with Forex Reversal Indicator?
Some forex traders might avoid a certain trend reversal indicator because it can change its signals later on. But you can still use it effectively with some strategies.
One way is to pair it with other indicators for trend trading. For example, you can use the FXSSI Trix Crossover indicator alongside it. Just follow the trend direction indicated by both. If the reversal indicator shows an uptrend, use Trix Crossover to trade in that direction. Similarly, switch to Trix Crossover for downtrend entries when the reversal indicator shows a downtrend.
Another method is to trade based on the signals of the reversal indicator itself, but this comes with more risk because it can repaint its signals. To minimize this risk, you can confirm its signals with other technical analysis tools like support and resistance levels, other indicators, or price action. When multiple tools agree with the reversal indicator, it boosts the reliability of its signals.
Features
Here are some features offered by the Forex Reversal Indicator:
- Identifies Trend Reversals: The indicator is designed to pinpoint potential changes in market trends.
- Visual Signals: Displays yellow dots with red and blue rings on charts to indicate potential trend reversals.
- Simple Interpretation: A yellow dot within a red ring suggests a potential downtrend reversal, while a blue ring around a yellow dot indicates a potential uptrend reversal.
- Reliability: Considered one of the top 10 indicators for identifying trend reversals, implying its reliability.
- Compatible with MT4: Specifically designed for MetaTrader 4 platform, ensuring ease of use for traders on this platform.
- Versatility: Can be used across various currency pairs and timeframes, providing flexibility in trading strategies.
- Integration with Other Indicators: Can be paired with complementary indicators like the FXSSI Trix Crossover to enhance trading signals and minimize risks associated with signal repainting.
Conclusion
The Forex Reversal Indicator for MetaTrader 4 helps spot when the forex market might change direction. It uses yellow dots with red and blue rings. A yellow dot surrounded by a red ring might mean the market could go down. A blue ring around a yellow dot might mean the market could go up. It’s important to know the difference between small changes and big ones. Traders can use this indicator along with other tools to make better decisions. It’s easy to understand and works with MetaTrader 4. It can be used with different currency pairs and timeframes.
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- Period1 (value = 12)
- Period2 (value = 34)
- Period3 (value = 69)
- Dev_Step_1 (value = 5.3)
- Dev_Step_2 (value = 5.3)
- Dev_Step_3 (value = 5.3)
- Symbol_1_Kod (value = 172)
- Symbol_2_Kod (value = 174)
- Symbol_3_Kod (value = 82)
- Box_Alerts (value = false)
- Email_Alerts (value = false)
- Sound_Alerts (value = true)
- Alert_Lv1 (value = false)
- Alert_Lv2 (value = false)
- Alert_Lv3 (value = true)
Q & A
Traders can minimize risks by confirming signals with support and resistance levels, other indicators, or price action analysis.
The indicator can be applied to various currency pairs, providing versatility in trading strategies.
Yes, it's suitable for intraday trading and offers flexibility across various timeframes.
Like many indicators, there's a risk of signal repainting. Traders should confirm signals with additional tools for greater reliability.
Retracements occur after significant directional price movements and are short-term, whereas reversals represent long-term shifts in price direction often triggered by fundamental changes.
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