be-forex-guru-indicator
Watch the testing video here:
Be Forex Guru Indicator
The Be Forex Guru Indicator is a simple but accurate trend-following forex indicator. Behind the scenes, it uses several indicators to calculate its trading signals, which are then presented in a really effortless form, namely buy/sell arrows. It is a good fit for both beginners and advanced forex traders.
The Be Forex Guru Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How does it work? How to apply in trading?
Trading Rules Explanation
The Be Forex Guru Indicator provides buy/sell arrows as trading signals. Additionally, there is a signal line that follows trend-momentum until its end. It works very well during strong market trends, while large price swings take place.
Buy Signal
Follow these steps for a long trade:
- Be Forex Guru Indicator provides green buy arrow
- Price swings higher from recent low swing
- Buy trade is triggered after the above conditions are met
- Set stop loss a few pips below the last swing low of the market
- Take profit or exit whenever the Be Forex Guru Indicator provides opposite arrow or use your own method of trade exit
Sell Signal
Follow these steps for a short trade:
- Be Forex Guru Indicator provides red sell arrow
- Price swings lower from recent high swing
- Sell trade is triggered after the above conditions are met
- Set stop loss a few pips above the last swing high of the market
- Take profit or exit whenever the Be Forex Guru Indicator provides opposite arrow or use your own method of trade exit
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.
How to set up the Be Forex Guru indicator in MT4?
Installation Guide
Download the Be Forex Guru.rar archive at the bottom of this post, unpack it, then copy and paste the Be Forex Guru.ex4 or Be Forex Guru.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
