SilverTrend Indicator - forex trading from home uk

SilverTrend Indicator ~ forex trading from home uk

When trading Forex i had a big issue with entry points i though: is retracement confirmed or is it not, is it time to enter or better wait for a while, my Forex entry strategy wasnt good, until i found simple to use SilverTrend Indicator, actually he is not doing a lot but helps me big time, it gives objective entry signals, and ofcourse it works best on trending market

Lets look at the picture. It is ofcourse 4H EUR/USD chart, i drew there two trendlines which form a channel, we have got bullish market no doubt about it.

Now look at blue arrows the ones very close lower trend line are giving very strong LONG signal, you can chceck it by yourself, look arrow in the middle between two trendlines (5th arrow) is giving false signal well may be it was opportunity to make few pips but i wouldnt risk there, on the other hand last signal (last blue arrow) which is nearly on trendline gave more then 160 pips in few hours.

You proboably also see orange arrows but i do not think it is wise going short when market is definitely going long, but when market is going down we ofcourse do the opposite, enter when signal is given by orange arrow.

I know it looks great and you may be thinking "hey, lets write an mechanical expert who will go long and short when signals are given!" this proboably isnt bad idea where market is going up or down, but be aware that when Forex is moving horizontal this mechanical strategy would wipeout your account in no time, because silver trend alert when trend change is confirmed on trading market when confirmation occurs it usually end of the trend.

Now for the price of this indicator ... just kidding it is free and comes in two versions.
Silver Trend standad silver trend indicator
Silver Trend Alert this version of indicator comes with popup and sound alert so you will never miss a trade :) but when using it for more then a week it gets boring so i am not using alerts right now.

Last word of warning, you can also find other indicator with word "trend" in their namess which look better then silver trend and cost more then 100$ dollars, most of them are nothing more then silver trend modified a bit and presented by vertical lines or something equal, do not throw your money on it.
More info for SilverTrend Indicator ~ forex trading from home uk:

Related Posts by Categories