Forex BING Proper Path Trade MT4 Indicator:
About the Forex BING Proper Path Trade MT4 Indicator
BING Proper Path Indicator(BPP) will show BUY/SELL signals on-screen in an easy to understand ‘Traffic Light’ format. Compatible with all trading strategies, provides a final ‘reassurance’ and ‘peace of mind’ in you taking an educated, high probability, low risk, trade decision.
Many traders suffer from analysis paralysis and end up missing out on very good setups. Others are looking for the exact tops and bottoms, and are psychologically unable to take a trade anywhere else. BPP and all the line of BING indicators are designed for two purposes: Signal Low-Risk trading situations, and develop a sense of Intuition on traders. This builds confidence in your trading and gets rid of bad trading habits, over time.
BPP provides clear, visual ‘BUY’ and ‘SELL’ signals, on-screen, along with Yellow(get ready), Green(do it) traffic lights.
How do signals work?
On the graph you get a 3-in-1 signal. You get either a ‘BUY’ or ‘SELL’ text, signaling that a potential trading situation is building up. To the left side of the text, you get either a Yellow, or Green traffic light. Yellow means that you should start paying attention to the graph’s structure, behavior, candles, etc. because a potential good trading setup is about to happen. Green means trading conditions couldn’t be better in the direction of the signal, and it is time for you to take a trading decision.
In a short time you will recognize and memorize these situations and take advantage of them. BPP is not designed to tell you when to trade, it is designed for you to take trading decisions during high probability situations. Used along other indicators(BING Setup Arrows Indicator, for example) it becomes a very powerful trading tool. It also builds your confidence and intuition, minimizing risk and increasing your winrate.
Is this a simple Moving Average direction indicator?
We wish it was that simple. BPP will gather data from 5 different timeframes, gather their momentum, direction, levels, and behavior, before showing a signal. Due to its MTF nature, this indicator works on M5, M15,H1,H4 and D1.
Does BPP provide alerts?
This indicator is not designed to tell you when to trade. It is designed to show you real-time, if market environment is optimal for you to take a trading decision. Therefore, it does not provide alerts. You can use other indicator for alerts,(BING Setup Arrows, for example), or any indicators of your choice. BPP is a reassurance tool.
Why do I feel the price is too high?
This is no simple indicator. The math behind it is very complex, and translating a complex science into a simple easy-for-everyone high-quality product, is no easy task. We have also been very generous in providing 10 activations for this indicator.
Will this improve my trading?
It will make it much easier, most definitely. It will build your confidence in taking correct decisions and improve your own strategy if you have one.
What configurable options does it offer?
Our policy has always been ‘Make what is complex, as easy as humanly possible”. The only configuration you need to worry about is the corner position of the signal, that’s it. You should spend time trading and developing your intuition. Not endless configuring. You’ll thank me later.
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)