Extremum Indicator is known as a trend-following forex trading tool. This indicator not only produces entry signals but also defines the strength of the market momentum. This feature helps traders to predict the length of the market trend and forecast the profit/loss margins while trading in the market.
• This Indicator turns positive and its bars turn pink
• A bullish bar forms near the current swing low of the market
• Buy triggers at the break of the respective bullish bar’s high
• Set stop loss below the low of the signaling bar
• This Indicator turns negative and its bars turn yellow
• A bearish bar forms near the current swing high of the market
• Sell triggers at the break of the respective bearish bar’s low
• Set stop loss above the high of the signaling bar
It fits all kinds of timeframes and currency pairs.