Buyers Sellers dashboard indicator

The Buyers Sellers dashboard indicator for MT4 provides the percentage of buyers and sellers during various time frames on the currency chart. The indicator calculates the time frames ranging from a minimum of 15 minutes to 1 year at the maximum. As a result, forex traders can identify the strength of buyers and sellers available in the market at any given time and buy trade accordingly.

The indicator has a simple and clean dashboard separated by 5 different tables and is easy to understand. So, it’s suitable for new and advanced forex traders in the spectrum of scalpers to long term traders. The indicator does not provide any buy and sell forex trading signals. Hence, traders should use it in confluence with other indicators in their technical analysis.

Buyers Sellers Dashboard Indicator For MT4 Trade Setup

The indicator displays the comments in a corner of the price chart and is separated based on hourly, 5 hours, daily, weekly and monthly time frames. An up or down arrow indicates the direction of majority of market participants. There are not many options to change in the indicator settings except the chart corner and the distance of the display.

Forex traders can use the dashboard to understand a top down approach of technical analysis. In fact, scalpers can choose the lowest table which includes the 15, 30, 45 and 60 minutes. This helps identify the strength of buyers and sellers and place trades in the direction of strongest market participant.

Traders can apply a similar approach for higher time frame trading, by choosing the corresponding table of time frames.

Conclusion

In summary, the buyers sellers dashboard indicator for MT4 has a user friendly clean and simple display and helps in understanding the strength of a currency pair.