Madro Golden is a trading indicator for forex. On the main forex chart window, there are no technical indicators for the Madro Golden indicator. The forex indicator pane is only populated with filtering tools. This approach employs only two primary indicators. This system’s indicators are created to order. They are distinctive and may perplex new traders. Still, the Madro Golden System becomes quite easy to trade by putting in a little effort to comprehend the strategy and following the system’s guidelines with total self-discipline.
What is the Madro Golden Filter Indicator?
The Madro Golden Filter forex indicator is made up of arrows on the top row, stars in the middle, a colorful square box below that, and the main filtering tool at the bottom. In the signal creation process, we could just employ the arrows and the crossing square box at the bottom. The indicators in the mt4 indicator pane can appear confusing at times. Inattention to the forex indicators may lead to poor trading judgments.
Madro Golden Filter Strategy
The Madro Golden System is one that gives trading alerts to the traders utilizing it on a regular basis. Typically, frequent indicator notifications are concerning market direction. If you are tuned to a particular time period, it will inform you like this- “GoldenMadro Up GBPUSD on the 15-minute chart“. When trading with this trading signal, it is preferable if you have the ability to focus. The indicators in the mt4 indicator pane can appear confusing at times. One would need to carefully examine the indicators.
Buy Signal
The following could be your checklist for a buy trade:
- When an arrow pointing up appears on the indicator.
- When the crossed square box at the mt4 bottom of the indicator turns blue.
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 an arrow pointing down appears on the indicator.
- For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Sell Signal
The following could be your checklist for a sell trade:
- When an arrow pointing down appears on the indicator.
- When the crossed square box at the mt4 bottom of the indicator turns red.
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 an arrow pointing up appears on the indicator.
- For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Madro Golden Filter Pros & Cons
Pros
- One of the benefits of using the Madro Golden System is receiving alerts on a regular basis.
- Madro golden filter indicator may be used with any forex trading system or strategy to confirm trading entry or exits.
Cons
- The indicator in the mt4 indicator pane can appear confusing at times.
- This indicator may require some extra knowledge of price action to benefit optimally.
Conclusion
Madro Golden Filter is a trend indicator that displays buy and sell arrows in the trading platform’s bottom chart. The indicator can be used as a stand-alone trading tool to enter and exit trades; however, it is better combined with other technical tools and price action. It can also be utilized as an additional trend filter in conjunction with your preferred system’s existing strategy. When utilized appropriately, the indicator performs on all currency pairs (majors, minors, and exotics). To trade using the Madro Golden Filter indicator, feel free to apply your preferred trade entry, stop loss, and take profit technique. As with any indicator, you may want to trade in accordance with the broader trend and practice on a demo account initially until you completely understand it. Keep in mind that even the finest trading indicator cannot guarantee a 100% win rate over long periods of time.
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