Master Entry Indicator MT4

Description

Master Entry Indicator for MT4: A Comprehensive Guide

Overview

• Indicator Name: Master Entry Indicator for MT4
• Minimum Deposit: $500
• Timeframe: M5 (5-minute chart)
• Currency Pairs: EURUSD, GBPUSD
• Platform: MetaTrader 4 (MT4)

 

Trading Strategy

1. Strategy Type

The Master Entry Indicator follows a scalping strategy. It aims to capitalize on short-term price movements by entering and exiting trades swiftly.

2. Entry Criteria

• Buy Signal:
  • When the Master Entry Indicator generates a bullish signal, indicating a potential upward movement.
  • Confirming factors may include:
    • Trend Direction: The price is above a short-term moving average (e.g., 20-period EMA).
    • Oversold Conditions: RSI (Relative Strength Index) is below 30.
    • Candlestick Patterns: Look for bullish candlestick patterns (e.g., hammer, engulfing).
  • Place a buy order when all criteria align.
• Sell Signal:
  • When the Master Entry Indicator generates a bearish signal, indicating a potential downward movement.
  • Confirming factors may include:
    • Trend Direction: The price is below a short-term moving average.
    • Overbought Conditions: RSI is above 70.
    • Candlestick Patterns: Look for bearish candlestick patterns (e.g., shooting star, hanging man).
  • Place a sell order when all criteria align.

3. Position Sizing

• Use a fixed lot size (e.g., 0.01 lots per trade) to manage risk.
• Adjust the lot size based on your account balance and risk tolerance.

4. Stop Loss and Take Profit

• Set a tight stop loss (e.g., 10 pips) to limit potential losses.
• Set a take profit level (e.g., 20 pips) to secure profits quickly.

5. Money Management

• Never risk more than 1% of your account balance on a single trade.
• Avoid overleveraging.

 

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Additional Resources 

Instant Download: https://yoforex.org/product/master-entry-indicator-mt4/

Contact:  @yoforexpremium

 

🔔😎Happy Trading😎🔔