Magic Plus MT4 Indicator & Magic Plus Robot Dashboard
displays buy sell arrow signals in the main chart. It can be used confirmation of trading entries or exits.
trend reversals happen all the time. As long as there are trends, there will always be reversals. Many trend and trend reversal trading tools and strategies depend on this simple concept. It’s now only a matter of how a trader can use the right tools to catch the reversals and trade the trends. The Magic Plus indicator is reversal trading indicators . it has some unique features that make it different from other forex trend reversal indicators.
What Is The Magic Plus Indicator?
It tells when the trend has turned from an uptrend to a downtrend, or from a downtrend to an uptrend. It gives its signals in the form of blue and red arrows, each followed by wavy horizontal lines. The blue arrow marks the beginning of an uptrend while the red arrow signifies a market reversal to the downtrend.
There is another feature that is not obvious at a first glance. This feature is the white square that appears when the indicator is suggesting a temporary or potential reversal.
This indicator includes MAGIC PLUS DASHBOARD
What is it ?
It is ROBOT, you can see all features in the bellow video:
The major flaw of the Magic plus indicator
Many traders have had their shares of frustration from trying to use the indicator to catch the beginning of reversals, and you can’t blame them for trying. If you back test the indicator, you will find that the bullish and bearish signals are right at the lowest or topmost pivot points of major trend reversals. See an example in the image below. You’ll notice that price seems to reverse as soon as the arrow appears.
On testing the indicator on a live market, however, you will find out that the bullish or bearish signals only appear after the market has completed a reversal. The reversal arrow appears on the chart only when the reversal has been confirmed. This shows that the Magic Plus reversal indicator lags.
For each of the trading strategies up there, the best way to set your take profits is to set price targets. Don’t wait till any of the indicators give an opposing signal before you exit the trade.
And when you want to set your stop losses, don’t forget to not risk more than you can afford to lose. A rule of thumb is to not risk over 2% of your capital on a trade. With that at the back of your mind, you may then use any method you’re familiar with to set your stop loss.
The good thing about the Magic Plus indicator is that once it draws its wavy lines, price rarely crosses over to the other side. You may use this to set your stop losses too, but it might not always give you palatable risk to rewards ratios.
Who Is The Magic Plus Indicator Best For?
The Magic Plus indicator is best for intermediate and professional forex traders.
Beginner forex traders who understand what lagging forex indicators are and know how to trade them may use the indicator as well, but with caution. To get the best out of this indicator, they may first need to know how to identify forex trend reversals.
Also, the Magic Plus indicator is best for trend and trend reversal traders.