The octopus foreign exchange trend indicator sketches a histogram beneath the prime exchanging window. Green candlesticks suggest observing for purchase signal. On the other hand, red candlestick suggests observing for an auction signal. This trend can be utilized for forex scalping but utilize it in connection with other exchanging indicators (slow stochastic, rsi, cci,…). For awesome exchanging outcomes, utilize it on higher time periods (H1, H4 and D1).
For purchase signal: Pause for the first green candlestick. Position the purchase placement at the beginning of the next candlestick.
For auction signal: Pause for the first red candlestick. Position an auction placement at the beginning of the next candlestick.
- Suitable on any preferred currency pairs.
- The recommended time frame for this indicator is one hour, four hours, one day or one week.
- It is applicable on any preferred trading sessions.
- Colors are the only configurable options for this forex indicator.
The EUR/USD One Hour Instance Chart
Utilize this forex Indicator at your own risk. WindsorForex cannot be responsible for any losses associated with utilizing any forex indicator presented on the site. It’s not recommended to utilize this indicator on the real account without testing it on demo first.