Grail Indic forex Indicator was developed and submitted by grailforex.com for online forex users. It is sometimes referred to just as the Grail Indic. The indicator was designed for the scalpers. It is a scalping indicator. It works best when scalping the following currency pairs: EUR/USD, AUD/USD, USD/CHF, GBP/USD, EUR/GBP, USD/CAD, and EUR/JPY.
You may use the forex indicator with any of the timeframes. However, for a scalper, tighter timeframes are always best. It would be best if you targeted to use the M5, M30, and M15 timeframes.
Fig.1. The Grail Indic forex indicator loaded on the trading chart.
Grail Indicator is responsible for displaying the yellow star-shaped arrow and the pink trend line. The yellow star-shaped arrow is the signal, while the pink trend line is just a confirmation of the trend of the market prices. Some red circles are also evident on the chart. This represents the start of the formation of the trend lines. The red circles have no significant trading entry signal; they just show or indicate where the trendlines began to form.
Just as it is clear from the above, the forex indicator is excellent and doesn’t fill your mt4 chart with a lot of fluff. It only shows the forex trader’s necessary information when trading.
So, how specifically should a Forex trader use this indicator to trade?
One thing that is true with this forex indicator is that its signals are very accurate. Therefore the trader ought to do precisely as the signals suggest.
Grail Indic Indicator Placing a buy order:
The yellow color star-shaped arrows are formed below the forex market prices for the buy signals. So, an arrow that appears below the candles is a straight buy. Although the indicator is free of signal noises (errors), it is always customary and a good habit to use the stops. For a forex scalper, it is advisable to set your stops at a ratio of 2:1. The take profit(TP) distance is twice the stop loss(SL). However, ensure that the take profit(TP) is reasonable and easily achievable. Otherwise, you will lose since the forex market will start to drop before hitting your take profit.
Fig.2. Placing a buy entry order while scalping the USD/CHF currency pair Grail Indicator.
Grail Indic Indicator Placing a sell order:
The yellow color star-shaped arrows are formed above the market prices for the sell signals. So when a color arrow appears above the candles, you should place a sell immediately. Although the indicator is free of signal errors, it is always expected and a good habit of using the stop loss and take profit(TP). Avoid using the trailing stops for this case. For a forex scalper, it is advisable to set your stops at a ratio of 2:1(the distance of the take profit is twice the stop loss). However, ensure that the take profit is reasonable and easily achievable. Otherwise, you will lose since the market will start to move up before hitting your take profit.
Fig.3. Grail Indic Indicator placing a sell order.
However, watching the chart, you may close the order when an opposite signal is given.
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Grail Indic Forex Indicator Free Download
