Professional Swing Indicator
Forex BUY and SELL signals from the best MT4 Professional Swing Indicator. Detect market lows and highs. Accurate trend detector.
Description
The Professional Swing Indicator for MT4 paints colored bars on the chart to present BUY and SELL signals. The bars comprise purple and blue colors. The purple bars occur above the zero line, whereas blue bars pop up below the zero line.
The 12-line is an important consideration for the Professional Swing Indicator. When the purple bars go above the 12-line, it suggests a strong uptrend. Conversely, when the blue bars go below the 12-line, it indicates a strong downtrend.
Along with the colored bars, the Professional Swing Indicator for MT4 points dots on the chart. The dots represent market lows and highs. They paint entry and exit points. The indicator comprises blue and a red dot. The blue dot mentions a sell position, whereas the red dot signals a buy position.
When looking for trading signals, traders should apply the indicator on longer timeframes, as the indicator can produce false signals on lower timeframes.
Professional Swing Indicator BUY/SELL signals
The above GBP/USD daily chart shows BUY and SELL signals with the indicator.
As mentioned earlier, dots along with bars suggest BUY and SELL signals. The highs and lows Professional Swing Indicator creates on the chart makes things easier for traders.
Whenever this indicator paints a blue dot, and the bars are below the 12-line, it suggests an upcoming uptrend, and traders should enter long positions.
On the other hand, when the Professional Swing Indicator plots a red dot and the purple bars are above the 12-line, it signals an upcoming downtrend.
The appearance of the dot signals an exit point also. For instance, if a trader enters at the blue dot, the occurrence of the red dot signals an exit point.
Sometimes the indicator plots a red or a blue dot, but the trend doesn’t change direction. It implies a continuation of a trend. That’s why it’s better to apply the Professional Swing Indicator with other technical indicators like the MACD or the RSI for further signal confirmation.
The indicator works best on every timeframe, but it’s useful to apply it on longer timeframes like the daily or weekly chart. This way, it presents an overall picture of the market rather than focusing on a certain timeframe.
For scalping and intra-day trading, the indicator can produce a lot of false signals, so it’s best to apply it on longer timeframes.
Conclusion
The Professional Swing Indicator plots bars and dots to suggest BUY and SELL signals. In addition, the indicator provides exact entry and exit points. Also, the indicator is free to download, which makes it easily accessible for all forex traders.
You can also combine the Professional Swing with other indicators like the RSI or MACD.