ITM X Gen SYNT Indicator V1.0

Description

ITM X Gen SYNT Indicator V1.0

Introduction

The ITM X Gen SYNT Indicator V1.0 is a non-repainting indicator that works seamlessly on the MetaTrader 4 (MT4) platform. It provides clear visual cues for potential trades, making it suitable for both beginners and experienced traders.

Key Features

1. Timeframes and Currency Pairs:
   • The indicator performs well across various timeframes, from M5 (5-minute) to H4 (4-hour).
   • Recommended currency pairs include GBPUSD and EURUSD.
2. Color-Coded Arrows:
   • The ITM X Gen SYNT Indicator uses dodger blue and pink arrows to signal potential trades.
     • Blue Arrow: Indicates an uptrend or potential long trade.
     • Pink Arrow: Suggests a downtrend or potential short trade.
3. Wave Bands:
   • The indicator incorporates three colored bands (pink, yellow, and blue) that move dynamically with price.
   • These bands represent wave patterns and can help you identify trend strength and potential reversals.
4. Trend Line Indication:
   • Look for blue and red trend lines plotted directly on the chart.
   • These lines act as dynamic support and resistance levels, aiding in trade management.

Strategy Implementation

• Long Trades (Buy):
  1. Wait for a blue arrow to appear.
  2. Confirm that the blue wave band aligns with the arrow.
  3. Consider entering a long trade.
  4. Set your stop loss below the recent swing low.
  5. Exit the trade when the red trend line is breached.
• Short Trades (Sell):
  1. Look for a pink arrow.
  2. Ensure that the pink wave band confirms the downtrend.
  3. Consider a short trade.
  4. Set your stop loss above the recent swing high.
  5. Exit when the blue trend line is violated.

 

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Additional Resources 

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