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Technical indicators, especially the trend ones, are among the most popular technical analysis indicators among traders, which not only have a significant impact on trading decisions, but also on the overall global market events.
Multi-indicator, this is the name of something with which it is very difficult not to achieve the desired success. Not only with its help a trader has an overview of the current market direction in the form of a trend tunnel, but it also hides several lines that, if understood correctly, can very quickly point out upcoming changes.
- Trend indicator
- User difficulty: advanced
- Usability: Forex, Oil, Indices
- MetaTrader 4 Compatibility.
- Free indicator updates
Trading with the indicator
Today we have one of the more complex indicators, where several conditions need to be met to enter a trading position. For long entries, the current slope of the tunnels needs to be rising, and the candle needs to cross both lines (blue, orange) from bottom to top (see chart below - first ellipse). It is advisable to place the SL below the blue line and change the SL placement over time as the line evolves. Similarly, the opposite procedure is chosen in the case of short positions.
Download the Multi-Indicator from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
