The Price Position Indicator is a simple MT4 indicator that shows market patterns by drawing corners on the chart. The indicator draws a blue line on the price to show the general trend. If the trend is up, it draws the angle up. Conversely, if the direction is south, the indicator draws a downward angle.
Investors can also benefit from the sell and buy signals mentioned in this indicator. The indicator shows the overall market sentiment by displaying a buying or selling trend in the upper right area of the chart. The Price Position indicator also identifies the opening highs, lows and closes of the candlestick in question. The indicator can be used by traders of any time frame, as the indicator is a good overall tool.
Price Position Indicator buy/sell signals
The indicator’s buy signal. In order to identify a “buy” or “sell” indicator, a trader must check the situation with the Price Position indicator. The indicator indicates the possibility of buying or selling in case of a change in the trend. It does not change the “buy” or “sell” situation until the trend itself changes. Price positioning indicators are like impulse waves and correction waves. The impulse wave of this indicator determines the price action in the short term, while the correction wave indicates the trend in the long term.
Although the indicator only shows a single line angle, there are situations where impulse and correction waves come into play. When there is a short-term price change, and it is possible that the price position indicator can move up or down in the direction, however its overall direction will remain the same. In the previous paragraph, the indicator will tell you the close, open and high prices as well as the low price of the candlestick currently in use. This is crucial information for traders as one will know the best time to enter or exit the market.
The price position indicator can also show a neutral level, even when the market is not moving that much. The indicator will show a yellow angle as long as the overall direction remains neutral. Sometimes, the indicator may give wrong signals or may not clarify the exact buy or sell price. To avoid this, traders can use other indicators, such as RSI as well as moving averages indicators.
MT4’s Price Position Indicator is a reliable indicator of trend direction. It shows a single angle of the chart to determine the exact point of entry and exit. Moreover, you can download the indicator for free on our website.