TAP Indicator

Highlights

📊 All Markets

💻 MetaTrader 4

🔓 Unlimited

🖍 Non-Repainting

♻️ Assets: All

⏰ Timeframes: All

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Description

TAP indicator for MT4 is a technical tool used to indicate the direction of the market trend. It typically shows arrows pointing upwards for a bullish trend or downwards for a bearish trend. This type of indicator is useful for traders who want to quickly identify the trend direction of a particular currency pair or asset.

TAP indicator also displays a pivot level, and support and resistance levels. The pivot level is calculated based on the previous day's high, low, and close prices. Pivot levels are useful for traders because they can provide an indication of potential price reversal or continuation points. Support and resistance levels show the areas at which buyers and sellers are likely to enter or exit the market. These levels are determined based on previous price action and can help traders identify potential entry and exit points for their trades.

A combination of non-repainting trend arrows, pivot level, and support and resistance levels can provide traders with a comprehensive view of the market, and therefore help them to make informed trading decisions.

Settings

Indicator in Action

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