What is the Mbfx indicator?
The mbfx indicator is an mt4 technical oscillator that shows price trends on the chart in trading. This is an oscillator that oscillates about the zero line.
It shows the ranging and trending market conditions in the form of different colors.
How does the mbfx indicator work in mt4?
The Mbfx indicator uses three colors to indicate trend and range.
- Green
- Orange
- Yellow
You can also modify colors in the settings of the mt4 indicator.
The green color is used to represent the bullish trend. It means the price will go up when the mbfx oscillator turns green. The orange color indicates the bearish trend of price. The price will go down when the indicator turns to orange color. The yellow color indicates a ranging market structure. You should avoid trading during yellow color and wait for the indicator to show a sell or buy signal.
Also, learn about the Corti EA v1.42 Free Download
Mbfx signals
Mbfx indicator includes a complete trading system. It uses mathematical formulae to generate buy or sell signals.
Buy signal
When the mbfx oscillator line turns green, place a buy order instantly. Keep on holding the trade until the color changes. Close the trade when the color changes from green to yellow or Orange.
See also Highway EA – Profitable and Safe FREE Forex EA Download
Sell signal
Place a sell instantly when the oscillator line turns orange. Hold the sell trade until the color changes from Orange to green or yellow.
Avoid trading
Close all the running trades when the oscillator line turns yellow. This color indicates the retracement period. Wait for a green or Orange color to open a new order.
Conclusion
Mbfx is an all-in-one indicator that guides traders from order opening to order closing. It is made by using other price oscillators.
It would help if you traded on higher timeframes like H4 and daily TF to get a high winning ratio. Make sure to backtest properly before trading on a live account. Backtesting will prepare you to tackle difficult times in trading.
