You can now download the Forex Predictor V2 indicator for free on AtoZ Markets indicators gallery. Forex Predictor V2 indicator draws six dynamic support and resistance lines in direction of an underlying trend to predict the most likely price correction and reversal points.
Forex Predictor v2 indicator drawn lines act in a similar way as would daily support and resistance levels. The indicator includes R3, R2, R1, Pivot line, S1, S2, and S3 dynamic levels.
Forex Predictor V2 indicator works well on 15M, 30M, 1H, and 4H time frames and any currency pair.
How to trade with Forex Predictor V2 indicator?
The MT4 indicator is relatively ease to trade with. When a price reached either R3 or R2 line, we could expect the price to reverse and therefore a short position could be opened. While if the price reaches either S3 or S2, we could expect the market to enter a bullish correction. Middle, neutral blue line should be used as taking profit for both long and short positions. Lastly, a position could possibly be held past the neutral take profit line if all the dynamic lines slope in the entered direction and the underlying trend confirms it.
How to download and install an indicator?
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on “Download Indicator” button located at the bottom.
- Save the file to your computer.
- Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select “Forex Predictor V2 indicator” template to apply it on the chart.
Note: This indicator was developed by fxpredictor. AtoZ Markets does not carry any copyrights over this trading tool.