Cut Through the Forex Noise: Simplicity Indicator V4 MT4 – Clarity and Profits for (FREE)
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Simplicity Indicator V4 MT4 Strategy
Overview
The Simplicity Indicator V4 is designed for MetaTrader 4 (MT4) and aims to simplify trading decisions. It combines a simple moving average (SMA) with an ATR-based money management system. Let’s delve into the key features and strategy details.
Key Features
- Simple Moving Average (SMA): The indicator uses a basic SMA to identify trend direction.
- ATR-Based Money Management: It incorporates Average True Range (ATR) to manage risk and set profit targets.
Strategy
The strategy revolves around straightforward rules:
- Entry Signal:
- Buy when a candle closes above the SMA.
- Sell when a candle closes below the SMA.
- Take Profit (TP):
- Set the first TP level at 1 ATR (Average True Range).
- This helps capture profits while considering market volatility.
- Stop Loss (SL):
- Initially, set the SL at 1.5 to 1 ATR.
- Adjust the SL as the trade progresses.
Minimum Deposit
- To trade using the Simplicity Indicator V4, consider a minimum deposit of your preferred account currency.
- While there’s no fixed amount, ensure you have sufficient capital to manage risk effectively.
Trading Parameters
- Timeframe: H1 (1-hour chart)
- Currency Pair: XAUUSD (Gold/US Dollar)
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