Solar Wind Joy forex indicator MT4 forecasts the forex trend reversal and reveals the strength of a chart trend. It has two zones.
- Bearish(red color)
- Bullish(green color)
Technical analysis of solar wind joy assists forex traders with the correct data from various technicals to safeguard their decision. It is used for forex trading, stocks, commodities, indices, cryptocurrencies, and any other trading instrument you can load into your trading platform.
What is the Solar Wind Joy indicator?
This is a histogram forex trading indicator. It is a set of advanced indicators illustrating support and resistance, dynamism, and chart trend orientation. There are two types of forex Solar Wind Joy indicators,
- Non-Repainting
- Repainting
Non-repainting does not redraw and helps to give a clean picture of the trend.
Solar Wind Joy indicator helps to reveal the strengths of forex buyers and sellers. Knowing the main aspects of the indicator to utilize it effectively is beneficial. The histogram’s red(bearish) color bars indicate that the sellers are in control, while the green(bullish) bars show that the chart bulls are in control.
Why is the forex Solar Wind Joy cloud useful to traders?
Solar Wind Joy indicator is a solid business base. Solar Wind forex indicator measures dynamics, analyzes price trends and highlights forex support and resistance level to offer a market view. This all-in-one measure gathers a lot of good information in a single map. The Solar Wind Joy indicator technique can locate trade exits, and forex traders can filter between long-term models.
How to Trade with Forex Solar Wind Joy indicator?
Solar Wind Joy indicator seeks trend signals and exits the open trades based on the chart trend’s strength. It is used in the following two ways:
- Using Extremes
- Zero line
Zero line
It reveals the existing trends and the extent of these trends. Forex Traders make their decision based on the chart zero line.
Buying
If the indicator histogram bar is above the zero line, it is green and considered a bullish chart trend.
Selling
The red-colored histogram bar shows that the chart trend is bearish, and we may look for a chart-selling opportunity.
Using Extremes
Extremes of the forex indicator histograms provide new forex trading opportunities. It is almost the same as using overbought and oversold conditions.
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Selling
It’s a selling opportunity when the green color histograms are at an extreme and start declining.
Buying
We should buy when the red color histograms start shrinking and the forex indicator line turns upward.
Trading strategy
Solar Wind Joy forex indicator MT4 can be mixed with any other confirmation chart tool for trading. Here is an easy method that can be used as a stand-alone forex strategy to assist during forex trading with the Solar Wind Joy indicator.
Buying Strategy
- The histogram bar should cross above the zero line, closing the green color bar.
- Wait for the bullish chart price bar to close and open the trade.
- Place the stop-loss(SL) around the recent swing low.
- Exit when the green color histogram bars start shrinking, and the forex indicator line directs downward.
Selling Strategy
- The histogram bar should cross below the zero line, closing the red color bar.
- Wait for the chart price bar to close bearish and then open the trade.
- Place the stop-loss(SL) around the recent swing high.
- Exit when the red color histogram bars start shrinking, and the forex indicator line directs upward.
Conclusion
The Solar Wind Joy forex indicator MT4 is a flexible all-in-one forex indicator of many specifics at once. This forex indicator works in the same way as other oscillators. It can be used for forex trading or to assess the degree of strength of trends.
As with all forex indicators, the Solar Wind forex indicator may generate false signals and require other forex indicators to filter the signals. We recommend combining the Solar Wind Joy forex indicator with other tools like forex moving averages, Parabolic SAR, Stochastic Oscillator, RSI indicator, ADX, and price action analysis.
There are the following essential points you must know about forex solar wind Joy:
- The cloud defines the long-term chart pattern. Trading to the cloud only.
- The cloud accepts chart trends and resists them. But when the price reaches the cloud, the momentum change is implied.
- The transition to the bullish tendency is seen when the conversion line crosses the baseline.
- Conversion and baselines act as chart support and resistance during a trend.
- Just exchange for transformation and simple lines
