MBFX Time Indicator for MT4 | Free Download
The MBFX Time Indicator is a visual oscillator that plots potential turning points in price.
This Indicator basically can be used to pick short term tops and bottoms in the price chart.
The Indicator is best suited to use with other technical Indicators and mostly as a way to Time your entries.
When to go long using the MBFX Time Indicator?
First, identify the trend.
Then wait for the MBFX Time Indicator to fall to zero and then wait for the color to turn from orange to green.
When the MBFX Time Indicator turns green, open a long position on the open of the next candlestick.
When to Exit Your long positions?
You can exit long positions based on a fixed risk to reward ratio.
But you can also use the MBFX Indicator to continue to hold on to the long position.
A simple look for the trend to change and then exit.
When to go short using the MBFX Time Indicator?
When the price is in a downtrend, take a short position when the MBFX Time Indicator rises close to 100 and then turns orange.
Open a short position on the next candlestick.
When to exit your short positions?
Exit the short position with a fixed risk to reward set up.
If the trend is strong, then you can opt to keep your position open and continue to book profits partially until the trend starts to lose momentum.
Where to set the stop loss
For long or short positions, always look to the recent swing high or low points that are formed prior to your trigger for initiating the position.
You can also choose to set your stop loss at or above the high or the low at the entry point of your trade.
The MBFX Time Indicator is a simple Indicator that is very helpful to Time your entries into a trend.
It allows you to pick turning points in the price. It is ideal that this Indicator is used along with other trading strategies.
Increasing Your Win/Loss Loss Ratio
When you add the Stochastic Cross Alert Indicator and use it together with a proven trend trading system like the Elite Swing Trader or Simple Trend Trading System, you can only expect to achieve a better win ratio and better risk-reward ratio.
Recommended Time Frames
Technically speaking, you can use this MT4 indicator for all time frames.
However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly.
We recommend that you use higher time frames like the H4 or even higher for better consistency.
How to Install Custom Indicators on MT4 on Windows
How to Install Custom Indicators on MT4 on Mac OS
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We hope you have enjoyed this post as much as we have created this strategy post for you.
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