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Below is how to use the Cycle Identifier Indicator: Buy Order While it is also simple to interpret the signals generated by this indicator.

Using the indicator to trade the FX market is pretty simple and straightforward. The indicator can work in the following timeframes:ĩ. Upon installation, you can customize the following features to suit your trading preferences: The indicator is a chart pattern indicator exclusively designed for traders using the popular MT4 platform. However, the Cycle indicator can be used for several trading purposes, including intraday trading (M5 and M15), scalping (M1) as well as swing trading (D1, H1, and H4) Many traders use this indicator with a premium price action mt4 indicator. Hence, for accuracy when using the indicator, it is best to combine it with moving average, exponential moving average, MACD indicator, breakout indicator, gap indicator, as well as the support and resistance indicators.

Most false signals are filtered out by the price action component. While a green cycle bar below the zero level means a buy signal.ģ. A red cycle bar above the zero level means a sell signal.Ģ. Below is the interpretation of the signals:ġ. The signals generated by the indicator are easy to read and decode. Since it consists of three critical components, namely, RSI, SMA, and a price action filter. While the indicator can also help traders to easily determine when to place a buy or sell order to maximize profits. The Cycle Indicator is a custom technical indicator designed to help traders draw buy or sell price action on the MT4 trading environment.