Profit Insider Pro is a trend-following indicator which could be beneficial for both beginner and advanced traders to provide them with trend-following forex trading solution. This indicator’s entire signal demonstration method is turned into basic moving average trading. As a result, anyone, from beginners to seasoned traders, may grasp this forex trading solution. The Profit Insider Pro can be used to trade any forex currency pair that is posted on the financial markets. Furthermore, could be used for both scalping and intraday trading.
What is the Profit Insider Pro Indicator?
With a demonstration procedure similar to the moving average, the Profit Insider Pro functions in trend tracking technical instruments. This is a trading solution for scalping and intraday trading that could be used by both experienced and inexperienced traders. Aside from the currency market, you may utilize the Profit Insider Pro indicator in other financial markets. The indicator tries to respond to price movements as fast as it can. A bullish trend happens when the price closes above the blue indication, while a bearish trend occurs when the price closes below the red indication.
Profit Insider Pro Strategy
This indicator functions similarly to Moving Averages. When the price closes above the blue indication, it indicates that the trend is bullish. The price closing below the red indication, on the other hand, represents the market’s bearish trend.
Buy Signal
The following could be your checklist for a buy trade:
- When the indicator line turns blue in color.
- When price closes above the indicator level.
- When a blue upward arrow appears below the candlesticks.
- When the indication “CURRENT SIGNAL: UP” appears.
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 line turns red in color and the indication “CURRENT SIGNAL: DOWN” appears.
- 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 the indicator line turns red in color.
- When price closes below the indicator level.
- When a red downward arrow appears above the candlesticks.
- When the indication “CURRENT SIGNAL: DOWN” appears.
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 line turns blue in color and the indication “CURRENT SIGNAL: UP” appears.
- For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Profit Insider Pro Pros & Cons
Pros
- Profit Insider Pro indicator line levels may be used as dynamic trailing stops for open positions in the market.
- This indicator can be used to identify the trend direction and may assist in staying in a trending market without exiting too quickly.
Cons
- The Profit Insider Pro Indicator may not be very suitable for scalping on the smaller timeframes.
- Lagging of the indicator sometimes may negatively affect the trader’s risk to reward ratio.
Conclusion
The Profit Insider Pro Indicator is a trend-following technical tool which is quite easy to understand and utilize even by novice traders. It’s straightforward and chart friendly. The trader would have to look at the color of the indicator line and pay attention to the arrows and trend signal direction. This indicator may be worth adding to your collection of trading tools, although it does not guarantee profits.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
