This is a collection of five indicators. The indicators come in different setups, which need to be inserted on the trading chart differently. You have to insert each of the indicators differently onto the MT4. It is left to the trader to choose which combination to use. However, in this article, we will discuss what each indicator does and then show how to use it all in combination to trade.
This combination of indicators is one of its kind and is one of the best recommendations for forex beginners. It ensures that before the trader opens any trade, the signal given is viable, and at no point will the trader close with a loss. If these indicators are used correctly, the trader should make a profit of around 300 pips a day.
Fig.1. The Hawkeye mt4 Indicators were inserted onto the MT4.
As seen from the chart above, the indicators complement each other, and they are harmonious with each other. This means all the indicators indicate the same trend. However, each indicator acts to confirm whether it is a good time to place an order.
The VSA_TrendDiamonds indicator is responsible for forming a line formed by red, white, and green squares. The trader should always trade only when the color of this line is either red or green. When the color is white, the trader should avoid trading. When the color of the line is either green or red, all the other indicators have given their signal.
On the other hand, the vasily pip sniper displays red and blue bars on a separate chart below the main trading chart. The red bars are formed to show it is the right time to trade, while the blue bars are formed when it is not the right time to trade. The blue bars are formed when the VSA_TrendDiamonds indicator line is white.
On the other hand, the trend value indicator gives the range of the previous day’s highs and lows. The purple line shows the highs, while the green line shows the lows. This is of importance when placing your stops.
The beginner indicator is the first to give its signal in the form of either a red or a blue dot. The trader should wait for all the other indicators to provide their signals. This indicator is based upon the SHI_SilverTrendSig.
Placing orders using the Hawkeye mt4 Indicators
The traders should use the VSA_TrendDiamonds indicator to place their orders since it is the last to give its signal hence giving a very refined signal.
Placing a sell order:
The conditions for placing a sell order:
- The beginner indicator should have formed a red dot.
- The Vasily Pip Sniper should be forming red bars.
- The VSA_TrendDiamonds indicator line should be red.
Once you open a sell, it should be closed when the VSA_TrendDiamonds indicator line changes its color to white.
Placing a buy order:
The conditions for placing a sell order:
- The beginner indicator should have formed a blue dot.
- The Vasily Pip Sniper should be forming red bars.
- The VSA_TrendDiamonds indicator line should be green.
Once you open a sell, it should be closed when the VSA_TrendDiamonds indicator line changes its color to white.
Example of how to place orders using the Hawkeyemt4 Indicators.
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Hawkeye mt4 Forex Indicators Free Download
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