Forex DJ Market Pro Indicator

The Forex DJ Market Pro adds multiple indicators to create a trend-following system. In this guide, we’ll talk about what the indicator is and its trading strategy.

What is the Forex DJ Market Pro Indicator?

The Forex DJ Market Pro combines multiple indicators that detect the market trend. When you download the indicator, it comes with multiple files, which you need to add to MT4’s indicators library.

You can use all indicators simultaneously or skip some and create a DJ Market Pro System. The system includes the buy/sell indicator, histogram indicator, and the DJ Market Pro template.

The first aspect of the system is the buy/sell signals. These signals emerge when according to the current trend. In addition, there is a trend up/down, which shows the trend of the current candle.

The second aspect of Forex DJ Market Pro is the histogram. It can be considered similar to that of MACD’s histogram. However, it shows if there is a downtrend prediction.


By combining the histogram and buy/sell signals, you can use it for a trading strategy.

Forex DJ Market Pro
Forex DJ Market Pro

Forex DJ Market Pro Strategy

There are two ways to trade with Forex DJ Market Pro. The first is to enter long when the indicator plots a buy signal and go short when the indicator draws a sell signal.

The other trade method combines the histogram and the buy/sell signals. If the histogram bars are above zero point and there is a buy signal, you can take a long position. Conversely, if the histogram bar is below zero and there is a sell signal, you can take short positions.

You can include the Moving Average indicator, which comes with the Forex DJ Market Pro indicator file, for further signal confirmation.

The good thing is you can use the Forex DJ Market Pro on all timeframes. It also has a specific template for scalping and works best on lower timeframes.


Buy Signal

  • Enter at the buy signal or when the histogram bars are above zero point.
  • Wait for the trend to form and then enter fully.
  • You could place a stop-loss at the recent low.
  • You could set take-profit at a recent high or exit the trade when the histogram bars fall below zero, and there is a sell signal.
Forex DJ Market Pro buy signal
Forex DJ Market Pro buy signal

Sell Signal

  • Enter at the buy signal or when the histogram bars are below zero point.
  • Wait for the trend to form and then enter fully.
  • You could place a stop-loss at the recent high.
  • You could set take-profit at the recent low or exit the trade when the histogram bars go above zero, and there is a buy signal.
Forex DJ Market Pro sell signal
Forex DJ Market Pro sell signal

Forex DJ Market Pro Pros & Cons

Here are the pros and cons of trading with the indicator.

Pros

  • The indicator can present clear entry and exit points.
  • It can be used in multiple strategies.
  • It works on all timeframes.

Cons

  • The indicator can be complicated to understand.
  • It may repaint buy/sell signals.

Conclusion

The Forex DJ Market Pro combines multiple indicators to develop a trend-following system. You can enter and exit comfortably by using the buy/sell signals.

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