Every day, week and month, the Forex market is paving its own road. This road can become our road map to future price movement, if we know how to read it. By studying the highs and lows of these previous days, weeks and months, we can develop a general idea of what price may do next. Here we talk about the Price Action.
Price Action is the price movement of an asset or a currency pair. Price action analysis refers to technical analysis based on price movements in the past, where traders try to find patterns in price movements that at first glance seem random.
The Price Action helps to predict the future of the market with a very high and reliable degree of accuracy, giving an opportunity to the traders to develop a profitable trading strategy. Traders can also identify the Market Condition by using The Price Action Strategy.
Market conditions are generally divided into two types; trending and consolidated (sideways). Price action can help us identify these conditions by paying attention to high and low prices. The trending market conditions are divided into two types; uptrend and downtrend. Uptrend can be identified from the point of higher highs prices (HH) and higher lows prices (HL). Whereas Downtrend is identified from lower highs prices (LH) and lower lows prices (LL). Difficulty or confusion to determine where the position of HH, HL, LH and LL because of its position "zig-zag"? If so, then TrendWavePattern indicator will help you.
TrendWavePattern Indicator is a tool to work on Metatrader 4 (MT4) that was programmed with certain complicated logics to calculate the current market conditions then determines the highest probabilty of the next winning market direction and provides some graphical objects on the chart. Chart Patterns, Multi TimeFrame High and Low Price,Pivot line,BUY-SELL area and more. All in one,available in the single Indicator. Those will be useful for you to master the current market condition before making trading decisions.
Some graphical objects below will appear on your chart when you are using TrendWavePattern Indicator
Harmonic price patterns are those that take geometric price patterns to the next level by utilizing Fibonacci numbers to define precise turning points. Unlike other more common trading methods, harmonic trading attempts to predict future movements. Pattern will be drawn automatically when all required calculations are found. The area at D and C is known as the potential reversal zone.
Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. Why Fibonacci ? It is known that Fibonacci levels taken from the development of the Golden Ratio which in fact can also explain the trail of price movements on financial assets, including forex. So if a major Fibonacci level is identified , you can be sure that a large number of traders will be watching that level, many of them having existing orders around that point.
Shows current price trends. It can also become as a Support and Resistance line because of its unique line characteristics.
Once the pattern and Fibonacci is drawn then it will provide BUY-SELL zone on the chart. You can decide the entry price over there. This is the potential reversal zone. If the price has come out of this zone, it might be too late to enter the market. That's why BUY-SELL zone is necessary. It is helpful to assure that we make entry in the right price zone.
It also draw TakeProfit and StopLoss lines.
UP-DOWN arrows to identify buy/sell price. The time where you can start to order when arrow triggered and all requirements match.
A pivot point is a calculation that is used to determine the overall trend of the market. Trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.Pivot point is used to set the tone for price action.Then High-Low Lines as a support and resistance and also a breakout area.
Available to be set on any TimeFrame.
My beloved traders, Just to avoid misunderstanding we tell you that it is an Indicator instead of an Automate Trading EA or Trading Robot. It is not Trading Robot. It is placed inside the Folder Indicator on MT4. And trader should enter , modify, delete, close order manually. No trading action automatically. It is a tool to help the trader analyze the market. And we provide a user guide how to read the graphics or buffers available on the chart that are drawn by TrendWavePattern Indicator.
Then why I should use it while I can use an Auto Trading Robot? Well, it is a good question. The question is about advantages and disadvantages between automatic and manual trading. Since I have been a forex trader for about 7 years I have tried both techniques and I can say that both are good. I give some reasons why we trade manually:
While you are using TrendWavePattern Indicator, you will get signal alerts and you can see on the chart . In this point, you can decide to trade or not, depending on your personal "comfortable" consideration. For example you want to wait the price moves certain pips above or below the signal then you make an entry.
By the way, you can also create an Auto Trading EA using TrendWavePattern Indicator. Once you get "the Feel" of it, you can contact us and let's discuss your further requirements.
Most Technical Traders often attach many indicators on the chart to analyze the market. Many objects,many buffers cover the chart itself. It is not wrong as long as you can get profits. But why not if we can do the simple way for the same purpose. TrendWavePattern Indicator will simplify your way to trade.
No matter currently where you are. You can always get the signals. TrendWavePattern Indicator will send alerts to your email, Mobile and Telegram Channel. This means you can also share signals to your friends and become a signal providers. If this is new for you, don't worry I will provide a guidance on videos how to setup the email alerts and telegram alerts. Including the guidance how to create a telegram channel.