Target Indicator is a short-term swing trading indicator. It closely monitors the changes in price action over the selected period of data and calculates it to define the overbought/oversold areas of the market.
Once such an area is confirmed, it plots star circles as trade signals according to the market momentums. Target work on all kinds of forex currency pairs but suits well with shorter timeframe charts like M5 & M15.
Target: Buy Conditions
- Price hits the lower Target bands
- A star circle is plotted below the price candle at the same time
- A buy can be triggered right above the lower Target
- Set stop-loss right below the oversold area
- Exit long/take profit whenever price hits the overbought level and a star circle is plotted above the price candle’s high
Target: Sell Conditions
- Price hits the upper Target
- A star circle is plotted above the price candle at the same time
- A sell can be triggered right below the upper Target
- Set stop-loss right above the overbought area
- Exit short/take profit whenever price hits the oversold level and a star circle is plotted below the price candle’s low