Magic FX Formula V2 is a great indicator for experienced and novice traders. It does not overload the chart with unnecessary information, but displays only the correct signals for the trader to make trading easy. The chart remains clear so that the trader can have a clear idea of what is happening in the market.
The Magic FX Formula V2 indicator provides an opportunity to detect various peculiarities and patterns of price dynamics which are invisible to the naked eye.Based on this information, traders can anticipate further price movement and adjust their strategy accordingly.
How does it work:
In addition to looking clean, your chart is also a proven indicator that has been a tremendous help for traders in making profits. It is one of the few indicators that can guarantee maximum consistent profits if you follow its signals. In fact, it is designed to help those traders who are unable to make the right decision when to buy or sell.
When using, you do not need to be limited to any time frames. If you are a scalper, you can use it on low timeframes. On the other hand, if you are a long term trader, you can use this indicator to place your long term trade using higher time frames.
The indicator includes different notification methods, which include both emails and sound. The emails are especially helpful if you cannot see your trading account in the Metatrader platform.
How to use:
Magic FX Formul V2 displays red and green dots. Red dots are displayed when the trend is downward and green dots are displayed when the trend is up.
Go short when SELL appears on the chart and a red circle appears at the same time:
Open a long position when the word “BUY” appears on the chart and at the same time a green circle appears: This is shown below.
The stop loss should be set a few pips below the local low for buying and a few pips above the local high for selling.
The position can be exited when an opposite signal appears or when the Take Profit is reached.