Reason behind every trade is to generate profit, traders use different indicator to just prevent loss and confirm profit. There are many aspects for trader that guarantee a profit just as trend out, reversal, or close or stop loss. there are many indicators to that helps earning profit out of most trades. In this article we will discuss a new indicator for MT4 platform, Profit indicator.
Profit Indicator for Mt4:
Profit indicator is a technical analysis indicator that analyse market trend at their very start time and predict market change, its major function is to provide sign of profit and loss. Profit indicator look into complete picture of market and analyse market trend reversal. It is graphical chart representation showing market swings. Profit indicator show the range of potential trade winners in buying and selling trades.
It is one of most used indicators on Mt4 platform, traders have built many strategies with these indicators.
Profit indicator in protect traders from hasty decisions and increase chances of good trade.
Characteristics of Profit indicator:
- Platform are: MT4, MT5
- Use charted graph for presentation.
- Coloured scheme: automatically detect.
- Trade time: any
- Recommended broker: any
- Timeframe: short term few minutes, few hours and day trade
- Currency pair: any (EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD, EUR/GBP, GBP/JPY, EUR/JPY, AUD/JPY, USD/CHF, XAU/USD)
Importance of Profit indicator:
Profit indicator works as helper to traders it guides them that which trade, they chose or which one to let go.
Market is all about fluctuation in the direction of trend and trends are form where the potential buyer and sellers are, profit indicator helps to identify where are potential buyers or seller. Profit Indicator let traders know the point where potential winners are.
Profit indicator eliminate abnormal ups and down of market and false out that are reasons behind loss. Profit indicator use fluctuating chart under the trading window depending on window size.
Spot winning trader and buy and sell where they are. Profit indicator is easier than other indicators and it has limited setting in its program.
Trading with Profit indicator:
Profit indicator is best to spot price reversal in specific time duration.
Profit indicator is automated indicator that to start a new trend or reversal.
Profit indicator spot time duration of trend that it will sit for longer or just fade out.
Profit indicator helps to identify false out trends.
Signals of Profit indicator:
Reversal: when trade move upward and cross above the profit line it indicates market reversal.
Buying: when the market is in strong bearish trend and fall below the profit line, market start to move upward it indicate buying trend.
Selling: when the market is in strong bullish trend and fall over the profit line, market start to move downward it indicate selling trend.
Demerits of Profit indicator:
Very first signal is mostly false and when market is moving abnormally. Profit indicator sometime repaint but that is just below average. Some traders use Profit indicator to confirm signals and prevent loss.