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Forex Goiler indicator based on Gann theory
Forex Goiler indicator (Forex Gailer) relates to signaling tools that give information about the most probable movement of the price and the most favorable point of opening and closing orders. The principle of operation is based on the methods of technical analysis Gann, the construction of signal lines uses the open price of daily candle.
In any indicator, the most important are two things: what information they see and how it can be used in trade. There are technical nuance – it is necessary to correctly set it on the price chart, but this time with the installation of the indicator of difficulties will not arise, simply copied the file to the folder Indicators in Your trading terminal.
Forex Goiler on the chart
Forex Goiler following conditions are necessary for effective work:
Timeframe (TF) – day (D1). It shows the signals every day at 00:00 server time (it may be different for different brokers). The indicator works on smaller timeframes, but in this case increases the risk of false signals.
EURUSD chart. The indicator operates on other currency pairs, but for this tool it was created.
The indications of this instrument are well read and virtually eliminates the possibility of misunderstandings. On the graph, the algorithm looks like multi-colored stripes, indicating the direction, levels, open orders, recommended values of Take Profit and Stop Loss. Explanations for the colors rendered in the bottom right of the graph.
Entry_1 the first entry point (white bars).
Entry_2 second entry point (orange line)
TP1 is the first point of closing orders in profit (light green).
TP2 – second point TP (dark green).
SL – stop loss level (red).
During the transition to the next trading day, the readings change accordingly opened candle. In practice, this indicator is used in conjunction with other tools to confirm the direction and level of market entry.
To combine Forex Goiler
Forex Goiler indicator operates on the MT4 and MT5 platforms, there are cases of its application in binary options trading.
Forex Goiler – based trading strategy?
In the study of new indicators traders consider them in two ways: as a basis for specific trading strategies and as part of complex systems for extracting profits from the Forex market. To work at his signals can be deferred and market orders, depending on the preferences of the trader.
If we consider Autonomous operation indicator, Forex Goiler, you can use it as follows:
As soon as the formation of the candle of the new trading day, the trader looks up the first entry point Entry_1, which is white in color. If light green stripe (TP1) located below it, it opens a sell (SELL) if the above, it is necessary to buy (BUY). Stop limiting losses, set at the level of the red line.
If the price went against the open positions and reached the level of entry Entry_2, you should open another order same direction (they also say "add" in the open position). In this case, the take profit should be transferred to the level Entry_1. The stop is not moved and remains at the level of the red band.
If the price went in the direction indicator and the order was eventually closed by take profit, then you should wait for the next signal, i.e. the next trading day.
Two levels of TP1 and TP2 can be used for partial close orders. For example, 50-70%, the trade is closed when the market price TP1 and the remaining amount to keep up to the moment when the price reaches TP2. It is desirable the level of stop loss move to breakeven (for the second or first level open).
Forex Goiler and possible errors
When using such indicators as Forex Hoyler, you should avoid trade on Monday and Friday. Commencement of trading on Monday is often associated with a term such as flat when a currency pair varies slightly in price and are extremely difficult to achieve even the first point, closing at take profit. The next day the situation can change dramatically, which immediately would cast doubt on the effectiveness of Forex Goiler indicator.
In the last trading day trader is likely to remain with an open position for the weekend, and the beginning of the week may be accompanied by a Gap in the opposite order to the direction that will lead to losses.
Goiler - indicator for Forex trading
To exclude the possibility of error will help additional indicators that are hosted on the same chart or in parallel. It is useful to control the trend direction, not to enter the market as long as the signals Galera will not match with him or a confirmation of a trend change to the opposite.
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| Category: Forex | Added by: (30.10.2017)
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| Views: 387
| Rating: 0.0/0 |
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