The Guppy Zones Forex indicator on Metatrader 5 is widely used for tracking trends and offering clear buy and sell signals across various trading instruments. It identifies the most profitable trend available at any given time, particularly effective in markets with distinct trends.
This indicator is based on a combination of short-term and long-term moving averages. It signals a buy trend when the short-term moving averages are positioned above the long-term ones, and conversely, a sell trend when the short-term averages dip below the long-term ones.
Here's a straightforward trading strategy based on these signals:
Buy Signal:
- Initiate a buy trade when the chart displays blue-colored moving averages.
- Set a stop loss just below the most recent low swing price.
- Close the buy trade upon receiving an opposing trading signal.
Sell Signal:
- Enter a sell trade when the chart shows brown-colored moving averages.
- Place a stop loss above the most recent high swing price.
- Exit the sell trade when an opposite trading signal is indicated.
This strategy offers a clear framework for traders to capitalize on the indicator's signals, making informed decisions on when to enter and exit trades.
Note:Insert the indicator in the Market folder.
Download
https://drive.google.com/file/d/12iY2b8kJPuISqyt1rcOF_G2f5487WZCg/view?usp=sharing
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