Forex Profit Boost Indicator for MT4 Download – Free – [TradingFinder]

The Forex Profit Boost indicator is designed to identify bullish and bearish market conditions. This indicator utilizes a combination of classic Bollinger Bands and moving averages to generate buy and sell signals for traders.

This trading tool consists of colored histogram bars, where the change in bar color is considered a signal to enter trades.

Forex Profit Boost Indicator Specifications

The table below contains the technical specifications of the Forex Profit Boost indicator.

Forex Profit Boost at a Glance

The Forex Profit Boost indicator displays bullish trends with a combination of yellow and blue bars. Similarly, when the market trend shifts to bearish, the bars turn yellow and red.

Bullish Trend

According to the Ripple (XRP) chart in the 30-minute timeframe, the successiveformation of blue histograms indicates the market’s upward direction and trend strength. Based on the chart, the color shift from red to blue acts as a buy signal.

Bearish Trend

Based on the analysis of the GBP/USD currency pair chart in the 1 hour timeframe, the color change from blue to red in the histogram is considered a sell signal. Moreover, successive red bars indicate the strength of the bearish trend.

Forex Profit Boost Settings

The settings for the Forex Profit Boost indicator are shown in the image below:

• Fast MA Period: Period of the fast-moving average
• Fast MA Method: Type of the fast-moving average
• Fast MA Applied Price: Price type used for calculating the fast moving average
• Slow MA Period: Period of the slow moving average
• Slow MA Method: Type of the slow moving average
• Slow MA Applied Price: Price type used for calculating the slow moving average
• BB Period: Period for Bollinger Bands calculation
• BB Deviation: Standard deviation used to draw the upper and lower bands
• BB Shift: Forward or backward shift of the Bollinger Bands

Conclusion

The Forex Profit Boost indicator visually displays market direction straightforwardly using colored histograms. In addition, the histogram color changes provide ideal entry and exit points for traders.

Using this indicator is straightforward, making it suitable for even novice traders to incorporate into their trading strategies overall.