Buy Sell Magic Indicator

The Buy Sell Magic Indicator plots real-time trend-reversal signals and assists in identifying important price swings. It closely watches the variety of price movements and plots signals anytime it finds a valid market trend reversal condition. Identifying market highs and lows is a critical component of daily technical analysis. Because technical traders seek to sell from the top and buy from the bottom, the Buy Sell Magic Indicator could be beneficial in determining the optimum levels for performing trade entries.

What is the Buy Sell Magic Indicator?

The Buy Sell Magic indicator is a combination of three indicators and a unique price action filter. It lacks distracting bands, histograms, and lines. It only has non-repaint arrows that indicate when to buy and sell. It also provides appropriate exit locations in addition to entry sites. As a result, it is appropriate for both newbie and expert traders. You may trade any currency pair with it.

Setting up the Buy Sell Magic Indicator
Setting up the Buy Sell Magic Indicator

Buy Sell Magic Strategy

A green arrow appears on the indicator, indicating that it could be time to enter a long position. A screen alert appears to ensure that the signal is identified in real time. The indicator also calculates your stop loss for you. All you have to do is fill out the form. You can also place the stop loss just below the grey dotted line. You can also wait for the indicator to give a bearish signal before exiting the buy trade. When the indicator displays a red arrow and a sell alert, you could open a short position. A suitable sell stop is also displayed in the pop-up alert. You can also use a tighter stop loss by positioning it just above the dotted line. If you are unsure about establishing your own take profit level, you could simply exit when the indicator displays a buy signal.

Buy Signal

The following could be your checklist for a buy trade:

  • When the indicator displays blue dots below the candlesticks.
  • When the indicator displays a green arrow below the candlesticks.

Once these events occur:

  • You could open a buy position after you confirm your entry with bullish candlestick patterns.
  • You could set your stop loss just below the nearest swing low.
  • You could set your take profit at the nearest resistance zone, or you could exit trade when the indicator displays a red arrow above the candlesticks.
  • For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Buy Sell Magic Indicator Buy Setup
Buy Sell Magic Indicator Buy Setup

Sell Signal

The following could be your checklist for a sell trade:

  • When the indicator displays red dots above the candlesticks.
  • When the indicator displays a red arrow above the candlesticks.

Once these events occur:

  • You could open a sell position after you confirm your entry with bearish candlestick patterns.
  • You could set your stop loss just above the nearest swing high.
  • You could set your take profit at the nearest support zone, or you could exit trade when the indicator displays a green arrow below the candlesticks.
  • For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Buy Sell Magic Indicator Sell Setup
Buy Sell Magic Indicator Sell Setup

Buy Sell Magic Pros & Cons

Pros

  • The Buy Sell Magic Indicator enables traders to detect swing highs and swing lows objectively.
  • During a trend-following price move, this indicator can be useful for long-term traders.

Cons

  • When using this indicator, other technical factors including candlestick patterns and price level analysis ought to be considered in order to predict a suitable trade setting.
  • This indicator may not be very suitable for narrow-ranging markets on smaller timeframes.

Conclusion

The Buy Sell Magic indicator gives signals for entering short and long trades. It does not necessitate any complex analysis. All you have to do is identify the green and red arrows and check the alert for the recommended stop loss. This indicator may be worth adding to your trading tookit, although it does not guarantee profits.

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