Introducing Drive Forex Indicator. This is a very simple MT4 technical indicator. Well, are you a beginner trader or expert? Either way, this indicator has been created just for you by code experts. As all indicators, this one requires just a basic understanding of the trend direction.
This sort of knowledge is required because you will be needing to transact only in the direction of the major trend to avoid risky countertrend trading. To get the best results from your trade, it’s always best to use other tools, like trend lines, price magnets, and a little bit of Fibonacci retracements. The most important benefit we’ve seen is that it works fine in all timeframes and it’s totally up to you how you use it.
Download Drive Indicator, your platform should look like this:
The Drive technical indicator consists of two Oscillators that move exactly like moving averages. An uptrend is confirmed whenever you see the green oscillator above the red oscillator, and a bear is confirmed whenever you see the red oscillator above the green oscillator. Therefore you should only look to go long when the green oscillator is above the red oscillator, and only go short only if the red oscillator is above the green oscillator.
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Conditions For Buying using Drive indicator.
- The market should be up bullish trending.
- The green oscillator of the Drive indicator should be above the red oscillator.
- Place your long position as soon as the above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the green oscillator of the Drive indicator crosses below the red oscillator.
Conditions For Selling Using Drive Indicator.
- The market should be down trending.
- The red oscillator of the Drive indicator should cross above the green oscillator.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the red oscillator of the Drive indicator crosses below the green oscillator.
Download Free Forex Drive Indicator
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