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The FxSProWPR oscillator generates signals for trend confirmation, which can also nbe used to confirm the emergence of new trends.
Indicator Parameters
- NumberBars – the number of bars to display the indicator. Too many bars may significantly slow down the operation of the trading terminal.
- SignalAlert – an Alert notifying of a trend.
- SignalSound – sound alert to notify of a trend. The sound will be played once the histogram exceeds the level of 15.
Rules to confirm position entry
- Green histogram – uptrend (provided that the value of the histogram level is above 15).
- Red histogram – downtrend (provided that the value of the histogram level is below 15).
FxSProWPR is an auxiliary indicator and should be applied together with the basic trend indicator FxSProMT or any other indicator that you use to open positions.
Please note that the market can change quickly and unpredictably:
- Exit when the market direction changes. When the market starts changing its direction (a reverse trading signal), close the deal.
- Exit, when important news releases can reverse the market in an unfavorable direction.
- Exit at the end of the American session.
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