Indicators are programs that are set on specific rule and its primary feature is to provide different sign and signal that can be buy, sell stop or exit trade and trend reversal. Indicator is technical instrument developed according to marketers needs.
There are many indicators with different features but in this article, we will know about Vertical bar indicator for mt4.
What is Vertical bar indicator for mt4?
Vertical bar indicator is basically a price action indicator that measures price movement. Vertical bar indicator is candle stick chart pattern that provide signals in prior price move. It is non repainting indicator that provide signals of support and resistance level or up and down take a reversal move.
Features of Vertical bar indicator mt4:
- Pattern: Candle stick Chart
- Currency pair: any currency pair but it would be better to start with common or basic price pairs.
- Timeframe: M1, H1, H4, and D1
Benefits of Vertical bar indicator:
Vertical bar indicator has so many benefits for traders but major benefit is a pure direction for trader by analyzing price move.
Vertical bar indicator is favorite indicator for many traders just because it helps to avoid losses.
And most important thing is that support and resistance level and this indicator predict whether price will break support or resistance level.
It provides signals that price will hold trend or reverse.Vertical bar indicator shows good signals for safe entry into the market.
It provides strong bearish and bullish trends alert on chart and predict new market trend.
Vertical bar indicator is non repainting indicator and provide valid signals on trend.
Trading with Vertical bar indicator:
Vertical bar indicator is candlestick Bar charts. The Vertical bar indicator is more popular and includes information on the open, high, low, and close trend. Whereas Vertical bar indicator predict market info on high, low, close and diversity.
The support level is the start buy trade and price traded will rise below during the bar indicate upward on right side of the horizontal bar chart.
The resistance level is the start of sell trade and price traded will rise above during the bar indicate downward on right side of the horizontal bar chart.
High price trade:
The high is the highest price traded during the trade and indicate by the upward vertical bar
Low price trade:
The low is the lowest price traded during the trade and indicate by the downward vertical bar
The close is the recent price traded during trade time.
It is important for traders to recognise their need of indicator as for traders who follow price move during trade Vertical bar indicator is best indicator for them. Vertical bar indicator keeps the traders up to date info on price move in advance and it does not repaint. It is complete set up for day trade and recognise support and resistance level. Vertical bar indicator provides right direction of price and give high probability of profit.