The Concept
When a market trend is confirmed, the most challenging part is determining the timing of the entries. This indicator alerts you to potential trend reversals and allows you to re-capture momentum from an earlier stage.
It's a versatile technical tool that allows you to trade on any forex currency pair in the market. Furthermore, it is compatible with all the timeframe charts available in your MetaTrader trading platform.
Inputs
TFS Tether Line Indicator Trading Strategy
The indicator employs a 55-day customized MA to detect changes in market trends. In addition, it uses a straightforward method for displaying trend status and signals.
When the trend is bullish, it turns red; when it is bearish, it turns blue. The price will remain above the indicator level during a bullish market trend. Conversely, the price will stay below the indicator level in a bearish market trend.
The indicator levels can also set a stop-loss order for the current market trend.
The indicator's signals are simple to understand. As a result, novice traders who want to trade within market trends can benefit from this straightforward trend-following forex indicator.
Tether Line: Buy Signal
- The bullish bar closes above the tether line.
- The indicator changes from blue to red.
- Exit when it changes to blue.
Tether Line: Sell Signal
- The bearish bar closed below the tether line.
- TFS Tether line indicator changes from red to blue.
- Exit when it changes to red.
