Forex technical analysis -Zeron Indicator. Zeron Forex trading indicator is a good tool to identify price reversal. when yellow line cross 0 line, at that time you can enter the trade. Don’t use for JPY Currency pairs.you can apply for any time frame. you can change indicator settings as you wish. Zeron indicator will give a good opportunity to identify the best reversal point. So, you can use this indicator as a trend indicator to identify trend direction. Combine good strategy with this indicator. This indicator doesn’t work for JPY currency pairs.
How to trade with Forex technical analysis -Zeron Indicator …
See the below picture. GBP USD 1-hour time frame. The forex trend is still in the uptrend. You can get more than 100 profit pips with this indicator. Use another indicator to enter & confirm the entry point of the uptrend. You can wait to exit from your forex trade until zeron indicator cross down 0 level. Otherwise, use other methods to exit as you wish.
You must remember special things about this forex indicator.
1. This forex indicator does not issue a good forecast for jpy pairs.
2. The performance of zeron indicator is different for NZD pairs than other currency pairs.
For NZD pairs,
If the forex zeron indicator is above 0 line, that’s mean the trend is selling. When zeron indicator is below 0 line that’s mean the trend is to buy.
For USD, AUD, GBP , EUR, CAD, CHF pairs…….
If the forex zeron indicator is above 0 line, that’s mean the trend is to buy. When zeron indicator is below 0 line that’s mean the trend is selling.
You can combine the trend following system with this forex indicator. If you trade in a 1-hour time frame, you can follow the trend of 4-hour time frame & 1-day time frame. If you trade in the 15-minute time frame, you can follow the trend of 1-hour time frame & 30-minute time frame.
When you enter your trade do place stop loss.
Use higher high or lower low.
Exit trade when received the opposite signal or as you wish.
Otherwise, you can use the Trailing stop.