The FNCD indicator on MetaTrader is a trend following indicator that identifies potential reversal areas in prices. It uses an algorithm to determine the way an asset’s price has reacted to a specific level in the past.
The indicator is located in a completely separate chart below the main chart. It consists of bar bars as well as the 0.00 center line, which is an indication of a bearish or bullish trend.
It is a FNCD indicator that can be used by both beginners and experienced traders of all levels. In addition, it can be used for scalping, intraday and day trading as well as swing trading. When trading intra-day, trading signals are best created on the H4 time frame.
FNCD indicator buy/sell signals
The FNCD indicator is great as a standalone tool for buy and sell signals. However, it is recommended to use it in combination with price action or other technical indicators to increase effectiveness.
Green bar chart bars indicate an uptrend and red bars indicate bearish momentum. In addition, a price above the 0.00 center line on a chart is considered a positive market sentiment. Conversely, a price below that 0.00 center line is considered to be an indication of a bearish attitude.
Buy Signals First, watch for the indicator to start drawing a bearish (green) histogram above the 0.00 center area. Then, create a buy/long trade when the price action prints a bullish engulfing pattern (e.g. bullish engulfing).
Sell Signal:First, wait for the indicator to start creating a bearish (red) histogram below the intermediate threshold of 0.00. Then, you can create a SELL/SHORT trade based on the price action. The price also shows a bearish pattern (e.g. a bearish order block).
The FNCD indicator in MT4 is a trading tool that tracks and monitors the trends followed by the market. It is designed to help you identify possible trend reversal zones. The indicator is available for free download.