The Forex Taotra indicator is a forex trading indicator. Taotra is a very simple forex trading indicator and it is a trend following forex trading indicator so it may perform low in a sideways market. Taotra indicator works in all time-frames and it can be used to trade with any currency pairs. Taotra indicator is capable of generating unbelievable returns if used properly. The only rule that are to be followed when trading with this indicator is- you should always stick to the major trend of the market, and you should never counter-trend the market. Although this trading indicator works in all time-frames, it is recommended to trade in time-frames higher than 5 minutes.
When you install Taotra indicator in your trading platform, your chart should look like this:
Taotra indicator consists of several dotted moving averages. Buy and sell signals are generated on the basis of crossovers of these moving averages and price. When the market is above these moving averages, it is a bullish signal and when the market is below these moving averages, it is a bearish signal.
Buying Conditions Using Taotra Indicator.
Market should be trending upwards.
Market should be bouncing from the recent support level.
Market should be above the Taotra moving averages.
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 market falls below the Taotra moving averages.
Selling Conditions Using Taotra Indicator.
Market should be trending downwards.
Market should be falling from the recent resistance level.
Market should be below the Taotra moving averages.
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 market rises above the Taotra moving averages