Introducing Taotra indicator, this is a forex technical indicator. Very easy to use, this indicator is a trend following forex system perfuming good in trending markets and poor in sideways markets. Taotra indicator works in all timeframes and it can be used to trade with any currency pair. Like any indicator, if this used properly it can generate unbelievably huge returns.
The only general rule which applies in almost all cases of trading forex is that you (the trader) should always stick with the major trend of the market, and for any reason, you should never trade against the market. The indicator works well in all time frames but tester recommends a higher timeframe than the 5 minutes.
As you install the indicator, your chart should like this;
The Taotra indicator has several dotted moving averages just like a cloud but totally different. Buy and sell signals are generated on the basis of crossovers of these moving averages and price. The market is bullish when prices are above the lines and bearish when prices are below the lines.
Conditions For Buying Using Taotra Indicator.
- The market should be trending upwards.
- The market should be bouncing from the recent support level.
- The market should be above the Taotra moving averages.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the market falls below the Taotra moving averages.
Conditions For Selling Using Taotra Indicator.
- The market should be trending downwards.
- The market should be falling from the recent resistance level.
- The market should be below the Taotra moving averages.
- 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 market rises above the Taotra moving averages.
Download Free Forex Taotra Indicator
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