Future Indicator
The Future Indicator for MT4 is a trend-following system that attempts to predict the future direction of a financial asset.
Description
The Future Indicator for MetaTrader 4 is a technical trading tool that simulates future candlesticks of the market based on past behaviors of price. In other words, it predicts the plausible direction of the market using past data from the activities of buyers and sellers.
The indicator is an incredible trading asset that would help you to easily predict the trend direction of the market. Besides, the color (blue/red) of the simulated candlestick makes it more convenient to easily detect the potential end of a price retracement, especially when the price is in a support/resistance zone.
How to Trade with the Future Indicator
The above image shows the action of the Future indicator on the EURUSD currency pair in the M30 timeframe. The blue bars of the indicator depict an upward direction, while the red bars show the downward direction of the price.
You can use this indicator to spot the potential end of a price retracement, especially in a trending market. For instance, to identify a buying opportunity in a bullish market, you need to wait for a bearish retracement and then place a buy order after the indicator prints a blue bar.
However, it is recommended to take a buy/sell entry when the price is in a support or resistance zone to get an optimal result. This is typified in the attached image, which shows how a high-probability sell trade setup was identified. The image shows how the price retraced into a supply zone (resistance level) in a bearish trend, while the red bar of the indicator triggered the sell entry.
Conclusion
The Future Indicator for MT4 is an innovative technical trading tool suited for scalpers and day/intraday traders. Besides, it would help you to easily make a future projection of the market with better accuracy.