Determine the direction of the trend, to make a profit, the main task of any trader
This trend indicator can be useful to players and investors of the market: especially the tool is useful if it detects a new upward turn in advance.
In the international currency market, Forex is simply not really efficient to work and earn revenue if you make transactions against the trend.
Based on this, identifying the trend in the early stages is the number one task for the trader.
Let's consider more in more detail the indicator: what specific characteristics does it have and how to apply it correctly.
This technical indicator is not redrawn, and it sends online signals of high accuracy, as well as allows performing market strategy testing, based on the held currency quotes.
The trend program uses moving averages: it is these lines that are passed through the system of filters and methods of price smoothing.
Based on this, the trend indicator of the market indicates the start of the movement in one direction, making it much earlier than the usual classical systems based on moving averages.
From a graphical and visual point of view, this technical tool is like a narrow channel: a corridor that is complemented by two leading shades of color - blue and red.
The first signals an upward movement, the second indicates a downward movement, and additional icons-the arrows serve as indicators for the direction of movement.
There are only data - information, according to which the algorithm is based on several moving averages, which are smoothed by filters.
It is thanks to the filtering system, the noise and variability of the price go away.
The "trend focus" indicator is effectively applied as a filter that indicates the overall trading trend, as a tool that does not tell us about the beginning of specific market events.
Experts strongly advise using this technical indicator in combination with other basic technical means (for example, the RSI indicator).
Another option for trading is to work and trade on rebounds from the Trend indicator line because Focus acts as a support and resistance zone.
When there is a touch of the price, it is worth concluding a deal in the direction of the trend.
But in a period when the market is flat (lateral movement), try not to believe the indicator data too much.
You can get rid of imaginary signals with the help of indications of the trend direction tool: the indicator can be set in the oldest time interval.
Also, experts do not recommend using the trend indicator "Focus" on smaller timeframes, where quotations are inherent in the spread and they are inclined to show traders a lot of false signals.
Non-standard timeframes and purposes of use.
The work of the trader is to analyze the market situation, and based on the evaluation of the stock exchange, he must know what data he should use when concluding trading operations.
The result of the trade is the final effectiveness of the chosen strategy by the player - the tactics that each player of the foreign exchange market uses.
In Forex, several standard strategies accordingly require the use of standard market instruments.
But, there are also such systems that traders create independently, and then, the use of non-standard time intervals is an indispensable condition for successful trading.
If such a need arose, a trader needs to have an idea of how to perform customization of non-standard indicators in his trading terminal, and therefore, what result can be expected.
So, non-standard timeframes.
Ideally, the MetaTrader-4 terminal provides us with the opportunity to work with a large number of temporary charts: the program has about 9 schedules - from minute charts to charts with a duration of one month.
A good property of the terminal: it allows you to measure these graphs (or rather, their list).
But let's talk about everything in order: before we talk about the non-standard time interval, we need to understand what a timeframe is.
The timeframe is a time interval, which is reflected on the chart in the form of a single figure - a bar or a candle.
In other words, it is a parameter-a quantity that is used to better understand the market situation and to visualize it better.
These pictures show us the price movement in different figures: this allows the player to choose a more suitable time interval for himself.
In MetaTrader-4 non-standard timeframes, it is an opportunity for a trader to realize all the most interesting ideas and extraordinary plans.
In reality, more market players use the hourly chart. But if we go to the image of the curve (cut 4-5 minutes), then we can largely change the trading approach, and discover new signals that indicate the entrance to the market. The charts of the non-standard format also allow us to apply wave analysis.
This visualization can be used for several reasons, and it works effectively.
If the player has created his tactics, then he needs to apply a special time interval and seeks to adhere to such rules: trade using a script that is part of the trader terminal.
In other words, anyone can adjust the tools that are familiar to him, which demonstrate the price movement.