One of the most difficult things to know in trading is when and where to exit a profitable trade. You know you have pips secured but you don't know where to get out of the market. You wonder if the market will go further in your direction so you'll be able to secure more pips but you also don't want it to go against you and wipe out most of your profit.
Enter the exit indicator. This indicator is very useful for determining trade exits. When the arrow prints, either tighten up your stop considerably or just exit your trade with your profit as the indicator is stating that there is LIKELY to be at least a pullback.
This indicator works very well for taking profits when scalping with the default setting of 7. I also recommend trying the settings 34 and 57.
You can also enter a trade in a lower time frame and exit when the indicator prints an arrow on a higher timeframe. This ensures you catch a big move and get out when there's likely to be a bigger pullback/reversal on the lower timeframe.
You might be tempted to use it as an entry and exit indicator. I don't recommend that. You'll find out why if you try it.
As with other tools I've shared, this is just that, another tool. This isn't a holy grail. This just a tool to help you with your trade management.
Please practice healthy risk management and enjoy.
Enter the exit indicator. This indicator is very useful for determining trade exits. When the arrow prints, either tighten up your stop considerably or just exit your trade with your profit as the indicator is stating that there is LIKELY to be at least a pullback.
This indicator works very well for taking profits when scalping with the default setting of 7. I also recommend trying the settings 34 and 57.
You can also enter a trade in a lower time frame and exit when the indicator prints an arrow on a higher timeframe. This ensures you catch a big move and get out when there's likely to be a bigger pullback/reversal on the lower timeframe.
You might be tempted to use it as an entry and exit indicator. I don't recommend that. You'll find out why if you try it.
As with other tools I've shared, this is just that, another tool. This isn't a holy grail. This just a tool to help you with your trade management.
Please practice healthy risk management and enjoy.
