Andrea Forex Indicator appears to be a perfect choice for beginners in the trading field. Its reliable BUY/SELL signals will provide the trader with the potential entry and exit points displayed right on the chart!
Andrea Forex is a custom trend-following indicator. Its signals 100% do not repaint, making it a trustworthy tool in your trading process.
*Please note that not all repainting indicators are bad. I wrote a post about good repainting indicators, view it here.
The software detects early trend reversals and notifies the user with the information about each signal. By default, the indicator has all types of alerts set to ‘yes’. But if you don’t want to receive a particular type of alert, just switch it to ‘no’.
The Andrea Forex indicator looks like an oscillator lying under the main MT4 chart. The appearance resembles a popular basic indicator called “MACD”.
Green and red lines indicate upward (bullish) and downward (bearish) trends accordingly. However, the changes in the lines color do not indicate the entry points. Wait until the arrow appears to enter the trade: “blue” for buy orders and “yellow” for sell orders.
The indicator can be attached to any currency pair chart and any timeframe (M1-D1). Therefore, the trader has an opportunity to choose between opening quick trades as a scalper and longer trades as a swing trader.
After the installation, your chart should look like this:
Andrea Forex Indicator Trading Signals
- the oscillator lines’ color turns to green;
- a blue arrow appears on the chart pointing upward;
- exit the trade when the oscillator lines’ color turns to red;
- or when the opposite (SELL) signal is generated.
- the oscillator lines’ color turns to red;
- a yellow arrow appears on the chart pointing downward;
- exit the trade when the oscillator lines’ color turns to green;
- or when the opposite (BUY) signal is generated.
Examples of the trades of Andrea Forex MT4 Indicator:
My Conclusion on Andrea Forex Indicator
I believe that Forex Andrea is really worth adding to your indicators collection. To my mind, it’s better to enter long-term positions with the help of its signals. I would also hold the position most of the time, ignoring the change of the lines’ color. But it’s strongly up to you and your trading preferences. Please remember that just like any other technical tool, Andrea Forex indicator is not capable of providing 100% accurate signals all the time. Feel free to add any other additional tools to increase the chances of winning.