Taotra indicator is a forex trading indicator. Taotra is a straightforward forex trading indicator, and it is a simple trend following forex trading indicator, so it may perform a bit low in a sideways market. Taotra indicator works in all time frames and can use to trade with any currency pair. Taotra indicator is capable of generating unbelievable trading returns if used properly. The only rule to be followed when trading with this indicator is that you should always stick to the market’s primary trend and never counter the market. Although this trading indicator works in all timeframes, it is recommended to trade in chart timeframes higher than 5 minutes.
When you install Taotra forex indicator in your trading platform, your chart should look like this:
Taotra Forex Indicator
Taotra indicator consists of several dotted forex moving averages. Buy and sell entry signals are generated based on these moving averages and price crossovers. When the market is above these fx moving averages, it is a bullish signal, and when the market is below these moving average indicators, it is a bearish signal.
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Buying Conditions Using Taotra Forex Indicator
- The MT4 market should be trending upwards.
- The Forex market should be bouncing from the recent chart support level.
- The market should be above the Taotra indicator moving averages.
- Place your long position(Buy) as soon as the above conditions are met.
- Place your stop loss(SL) just below the recent swing low.
- Take your profit(TP) when the market falls below the Taotra moving averages.
Selling Conditions Using Taotra Forex Indicator
- The MT4 market should be trending downwards.
- The Forex market should be falling from the current resistance level.
- The market should be below the Taotra indicator moving averages.
- Place your short position(Sell) as soon as the above conditions are met.
- Place your stop loss(SL) just above the recent swing high.
- Take your profit(TP) when the market rises above the Taotra moving averages.
Taotra Forex Indicator Free Download
