A cycle identifier indicator is an MT4 indicator that signals the completion of a market cycle to open a buy/sell order according to the signal.
This indicator plots signals in the form of red and green bars. It is straightforward to use, but the algorithm behind this indicator is complex and contains combinations of other technical indicators.
|Indicator Title||Cycle Identifier|
|Indicator Size||28.7 KB|
|Trading Platform||Metatrader 4|
How does the Cycle identifier indicator work in MT4?
The cycle identifier indicator plots a grey line in a separate window of MT4. This grey line acts as an oscillator that oscillates above and below the zero line.
This line picks the signals from the RSI indicator, simple moving average indicator and other parameters. Then the indicator shows an oscillation above or below the zero line.
Except for this grey line, it also plots two bars of red and green colour. These red and green bars indicate the completion of bearish and bullish cycles, respectively. Then it generates sell and buy signals.
Cycle identifier indicator signals
Here are the simple criteria to open buy or sell positions. However, you can also use this indicator’s strategy to get profitable results.
Open buy trade
When the grey line of the cycle identifier indicator oscillates below the zero line with a green bar, open a buy trade. This is an indication of the start of a new buy cycle.
Open sell trade
When the grey line of the cycle oscillates above the zero line with a red bar, open a sell trade. It indicates the start of a sell or bearish market cycle.
Price constantly forms cycles. After the completion of one cycle, the following price cycle will start. This indicator identifies the end of a cycle and then alerts before a new price cycle starts. So we can trade accordingly.Download indicator