The TFS Bitcoin Indicator represents a super trend-identifying tool developed for MT4 platforms. It identifies the changes in trend cycles and helps both scalpers and intraday traders in anticipating precise buy/sell areas.
It places two horizontal labels at 0.001 and -0.001showing the positivity/negativity of the indicator’s value for determining the mood of the current market momentum.
During a bullish market trend, you’ll find the green curvilinear line always intends to stay above 0.001.
Conversely, in downtrend markets, the indicator’s value mostly remains below -0.0001 and remains unchanged until the price plots a solid bullish reversal pattern.
According to our review, TFS Bitcoin Indicator suits all sorts of MT4 timeframes and ideally matches all trading styles.
Moreover, despite being a bitcoin trading indicator, it can be applied for forex, stocks, and commodities too.
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Buy Signal Generation with TFS Bitcoin Indicator
The indicator level moves above the higher horizontal level at 0.001, indicating the market is moving within a valid bullish trend, and it’s time to go for fresh long opportunities.
Therefore, whenever the indicator value turns positive, look for solid bullish reversal signals like the above example.
Here, we’ve considered two consecutive bullish pin bars alongside the uptrend signals from the TFS Bitcoin indicator as an ideal setup for going long.
Also, you may decide on a buy exit when the indicator hits below -0.0001.
Sell Signal Generation with TFS Bitcoin Indicator
Enter short when the indicator value turns less than -0.0001, and the chart prints a solid bearish reversal pattern.
In the above example, the price plot a bearish breakout while the indicator line drops below -0.0001, portraying an ideal opportunity of going short. Holding the short position until the indicator value turns positive is the best way of earning a greater margin of profit.