The Forex Profit Boost indicator plots a multi-colored histogram on the price chart of the selected financial instrument. Its authors claim that it is effective on all periods, but this is not the case. Many false alarms occur on periods of under four hours. You can minimize this by selecting parameters specific to the period and filtering the trades further. For example, if you want to see if a trend is present on a certain currency pair, you should look at the MACD indicator.
Main Signals
The Forex Profit Boost indicator gives two signals – a conservative entry and an aggressive one. The aggressive entry occurs when the trend is changing and a reversal is expected to occur. A buying signal is formed when a red histogram bar turns blue or yellow. After this, open a buying position with a stop loss behind the local low and a Take Profit when the price reaches a key resistance level.
To use the Forex Profit Boost indicator, you must first install the indicator on your MetaTrader 4 terminal. Select the “Indicators” folder from the Main Menu. Then, navigate to the Navigate window. From there, select “Indicators” and drag the indicator to the price chart. After you have installed the indicator, you can view the results in your trading dashboard. You can also adjust its parameters, like BBDeviation and MA-Method, if necessary.
The Forex Profit Boost system is a combination of two indicators that have been proven to be extremely profitable for traders who follow its rules. It uses four specific currency pairs and two different types of trades. The Forex Profit Boost indicator allows you to earn five figures and enjoy an incredible lifestyle while still saving up for retirement. The Forex Profit Boost indicator is easy to use and works with any timeframe, and on any currency pair.
MACD indicator
When trading Forex, make sure to limit the amount of money you risk on each trade. You should not risk more than two percent of your account on any single trade. You should also only have one trade open at any time. By using this two-step setup, you can create a brilliant trade in seconds. This strategy is based on the Moving Average Convergence-Divergence (MACD) indicator.
Bollinger Bands indicator
The Bollinger Bands indicator is also an important tool in forex trading. It provides information about the volatility of the market and alerts traders to a transition. It is especially useful for scalpers, who usually trade in just 5 minutes per position. This strategy can yield multiple profits, and it is ideal for traders who want to trade small, low-volatility currency pairs. The Bollinger Bands indicator will provide more strength than a single indicator alone.