Indicators

Forex Drive Indicator

Introducing Drive Forex Indicator. This is a very simple MT4 technical indicator. Well, are you a beginner trader or expert? Either way, this indicator has been created just for you by code experts. As all indicators, this one requires just the basic understanding of the trend direction. This sort of knowledge is required because you will be needing to transact only in the direction of the major trend to avoid risky countertrend trading. To get the best results from your trade, it’s always best to use other tools, like trend lines, price magnets and a little bit of Fibonacci retracements. The most important benefit we’ve seen is that it works fine in all timeframes and it’s totally up to you how you use it.

Download Drive Indicator, your platform should look like this:

Forex Drive Indicator

Scroll Below To Download this Indicator

The Drive technical indicator consists of two Oscillators which move exactly like moving averages. An uptrend is confirmed whenever you see the green oscillator above the red oscillator, and a bear is confirmed whenever you see the red oscillator above the green oscillator. Therefore you should only look to go long when the green oscillator is above the red oscillator, and only go short only if the red oscillator is above the green oscillator.

Don’t Miss: Forex Brokers

Conditions For Buying using Drive indicator.

  • The market should be up bullish trending.
  • The green oscillator of the Drive indicator should be above the red oscillator.
  • Place your long position as soon as above conditions are met.
  • Place your stop loss just below the recent swing low.
  • Take your profit when the green oscillator of the Drive indicator crosses below the red oscillator.

Top 20 Trading Systems 

Conditions For Selling Using Drive Indicator.

  • The market should be down trending.
  • The red oscillator of the Drive indicator should cross above the green oscillator.
  • Place your short position as soon as above conditions are met.
  • Place your stop loss just above the recent swing high.
  • Take your profit when the red oscillator of the Drive indicator crosses below the green oscillator.

Download Free Forex Drive Indicator

OPEN ACCOUNT

Our community works well with InstaForex. Are you looking for a demo or real account? We recommend InstaForex. Currently, they offer up to $1000 no deposit bonus; That’s right! Get a $1000 in your account and trade with it right now. T&C apply.

OPEN ACCOUNT

Insta no deposit Bonus

Advertisements

Enjoyed reading this page? Please leave us a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.