Buy Sell Magic Indicator

Description

Buy Sell Magic Indicator Trading with certain indicators can occasionally be perplexing. It’s difficult to become proficient with all the lines, colors, and numbers. Thankfully, you can make Forex trading easier with just one indicator. The Buy Sell Magic Indicator is what we are introducing to you.

Three indications and a unique price action filter are combined to create the Buy Sell Magic indicator for Metatrader 4. Distracting lines, bands, or histograms are absent. Only non-repaint arrows that indicate when to buy and sell are included. It offers appropriate escape locations in addition to entry points. Because of this, it is appropriate for both inexperienced and seasoned traders.

Here’s another important thing. When the market is more volatile throughout the London and New York sessions, the Buy Sell indicator works well for smaller time frames (M1, M5, M15, and M30). Its ability to trade any currency pair is its strongest feature. Nevertheless, using the indicator during holidays and during significant economic news is not advised. You could wonder how the indication is used.

How to Use the Buy-Sell Magic Indicator to Trade

Buy Signal

It is ready to enter a long position when the indicator displays a green arrow. To make sure the signal is detected in real time, a screen alert appears. The indicator does the stop loss calculation for you, which is the finest part. You only need to complete the order. Another option is to set the stop loss slightly below the gray dotted line.

Where should the trade be exited? The 3:1 reward ratio is used to determine the take profit. To put it another way, you can decide on your own profit goal, such as 50 pips. You can also leave the buy transaction when the indicator posts a bearish signal.

Sell Signal

When the indicator shows a red arrow and a sell alert, open a short trade. A reasonable sale stop is also displayed in the pop-up notice. Additionally, by placing the stop loss slightly above the dotted line, you can employ a tighter stop loss. Simply exit when the indicator posts a buy signal if you are unsure about determining your own take profit.

A fantastic technical analysis tool for easy and uncomplicated trading is the Buy Sell Magic indicator for MT4.

The EUR/USD price movement is shown in the above chart. An appropriate time to enter a sell position is indicated by the red arrow at 1.2236. The dotted red line, which serves as resistance, is where you can set your stop loss. A good buy indication is indicated by the green arrow at 1.2165. The appropriate stop loss and support are represented by the blue dotted line.

Conclusion

The Buy Sell Magic indicator offers a great way to enter both long and short positions. There is no need for a complex analysis. All you need to do is look for the alert’s suggested stop loss and recognize the green and red arrows. Additionally, it is free to use. It is wise to add additional analysis to the indication.