Introducing the Execute Line Forex trading indicator. This is a very simple forex trading indicator and very popular among the experienced and beginner traders. The execute line indicator has highly accurate trading signals hence its popularity. It falls under trend following indicators category, which implies that it’s best to use it in trending markets because it might perform poorly in sideways markets. The execute line indicator can be used in multiple timeframes and various currency pairs. The holding period for any individual trade depends on the timeframe selected by the trader.
Install the Execute Line Indicator, your platform should look like this;
The execute line indicator is a customized moving average which changes its color accordingly with the trend of the market. When the execute line indicator is yellow, it provides a buy signal and when it turns pink, it provides a sell signal. This forex indicator has different perhaps advance algorithms compared to standard moving averages.
Conditions For Buying Using Execute Line Indicator.
- Your selected Forex pair should be up trending.
- Preferably your pair should be bouncing from the recent support level.
- Execute Line indicator should be yellow.
- Place your long position when all of the above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when Execute Line Indicator turns pink.
Conditions for selling Using Execute Line Indicator.
- Your Forex pair should be down trending.
- Your pair should be retracing from the recent resistance level.
- Execute Line indicator should be pink.
- Always Place your short position when all of the above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when Execute Line Indicator turns green.
Download Free Forex Execute Line Indicator
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