GFK Forex Indicator is one of the simplest trends following forex indicators you may have ever experienced. This indicator has been designed especially for the newbie traders to assist them in defining the correct trend along with the trade signals as well.
This indicator can be applied to trade all kinds of forex currency pairs and fits great with all sorts of timeframe charts within the forex MT4 platform.
The Indicator is a stand-alone forex trading tool. Although it can be combined with any trend-based forex indicator or strategy for achieving greater trading performances.
GFK Forex Indicator Overview
After installing the indicator at your MT4 terminal, your trading chart will appear like the following image:
GFK Forex Indicator Anatomy
GFK Forex Indicator uses a separate indicator window to demonstrate the trend signals. It is green when the trend is bullish and turns red to signal the bearish trend of the market.
Moreover, you’ll find a trade signal panel at the top right of the main chart window. This panel clearly states the trade signals in text forms.
You can use the Indicator for trade exit purposes too. Just exit the trade whenever the indicator signals the opposite trend compared to your current trade direction.
Also Read: BB Alert Indicator
GFK Forex Indicator: Buy Parameters
- The Indicator turns green
- The trade signal panel shows ‘Buy Signal’
- Buy triggers when the above conditions are met
- Set stop loss below the current swing low of the market
- Exit long/take profit whenever the indicator turns red
GFK Forex Indicator: Sell Parameters
- The Indicator turns red
- The trade signal panel shows ‘Sell Signal’
- Sell triggers when the above conditions are met
- Set stop loss above the current swing high of the market
- Exit short/take profit whenever the Indicator turns green