Waddah Attar Explosion
Welcome in todays article on Best MT4 Indicators. A trader who is in the forex market to make a profit would enter a trade when the price is favorable to him. The Waddah Attar Explosion is one of the forex indicators traders leverage to monitor price movements and ensure they don’t make false moves that would result in losses.
In this article, we will take a look at what Waddah Attar Explosion is, its installation, how it calculation is done, how the indicator works, and how to use it for trading.
What is Waddah Attar Explosion?
The Waddah Attar Explosion indicator is designed using the MetaTrader 4 charting and trading terminal. It is built dependent on price and helps the trader in identifying when the price of a currency pair or trading asset begins to move either as a move continuing a trend or breakout move following a range or as a reversal move after the price has been moving in a direction for a short time.
Traders that make use of the Waddah Attar Explosion for charting all of the various timeframes that make up the trader’s choice of a trading asset or currency pair for the trading day are the ones who are most expected to get the majority of advantages from utilizing the indicator.
Besides that, traders who also use the charting platform to make trading judgments through the trading day vigorously will find it handy. Moreover, those who use it to technically analyze various timeframes that make up the trader’s choice of trading assets and currency pairs in the market will equally find the indicator highly useful. This tool you can combine also with a good Currency Strength meter.
The Waddah Attar Explosion indicator for MT4 comes with many advantages and insights for the day trader.
How to install Waddah Attar Explosion
1. Download the indicator
2. Copy the Waddah Attar Explosion to your MetaTrader Directory by locating “experts” and then “indicators.”
3. Start your MetaTrader 4 client again.
4. Choose Chart and Timeframe, where the indicator should be tested.
5. Look for “Custom Indicators” in your navigator. You can find it typically on the left in your MetaTrader 4 Client.
6. Right-click Waddah Attar Explosion.
7. Add to a chart.
8. Adjust the settings or click Ok.
The indicator is now installed and ready for use.
How to uninstall the indicator
1. Choose the chart where the indicator is running in your MetaTrader 4 Client.
2. Right-click into the chart.
3. Click “Indicator list.”
4. Choose the indicator and click delete.
5. The indicator is removed from your MetaTrader 4 Client.
How to Calculate Waddah Attar Explosion
The indicator depends on combining two indicators (MACD and Bollinger Bands) in a unique way. Therefore, this blend makes it easy to recognize with greater precision the commencement of the price explosion conditions that happen nearly daily. With this, you can quickly recognize when the explosions start and end with a high level of success.
The indicator is based on two things for displaying its data and drawing its lines. BTW you can combine this indicator with the Chande Kroll stop.
It uses the difference between the superior line and the inferior line of the Bollinger Bands indicator, signified by the Golden Line in the indicator.
1. When prices become steady, it narrows but fluctuates in a very thin range.
2. It enlarges when the price starts to explode and draws a circle curve to come back and thins at the end of the explosion.
It is the difference between the present and the preceding MACD with displacing by a candle, symbolized by the histogram.
1. This difference is very sensitive to price inconsistencies and without delays, as happens when only the MACD is used.
2. If the difference is positive, it is signified by the Green bars, and then the price goes higher. However, if the difference is negative, it is meant by the Red bars, and the price becomes lower.
3. Each bar that develops in the indicator window matches up to a chart candlestick.
4. The height of the Bars reveals the volume of each candlestick, and consequently, the explosion strength thrusting the price of the market in the path they go.
5. The height of the formed bar determines the degree of the vertical scale of the histogram.
6. The Bars height is measured upward from a zero line (the Bars vertical scale is programmed by default to begin at zero). The maximum it can attain is not limited.
How the indicator works
This indicator makes use of MACD/BB in monitoring trend direction and strength. It is better to use it for 30 minutes.
The different parts of the indicator include:
Dead Zone Line: This functions as a filter for weak signals. You shouldn’t trade when the red or green histogram is under it.
1. The red histogram indicates the present downtrend.
2. The green histogram indicates the present uptrend.
3. Sienna line indicates the explosion in price up or down.
Signal for ENTER_BUY: All the conditions below have to be met:
1. The green histogram is raising.
2. The green histogram is over the Explosion line.
3. Explosion line is raising.
4. Both the green histogram and Explosion line are over the DeadZone line.
Signal for ENTER_SELL: All the conditions below have to be met:
1. The red histogram is raising.
2. The red histogram is over the Explosion line.
3. Explosion line is raising.
4. Both red histogram and Explosion line are over the DeadZone line.
Signal for EXIT_BUY: Exit when the green histogram goes under Explosion line.
Signal for EXIT_SELL: Exit when red histogram goes under the Explosion line.
The parameters can be configured through the options page. You can tweak it to fit your instrument.
Using the Waddah Attar Explosion to Trade
Trading with the Waddah Attar Explosion indicator requires sticking to specific rules, and they are:
1. You need to place an order when the measurement lengthwise of the indicator bars (bars in the indicator chart) is over the Sienna colored line.
2. The generation of a red bar shows sell orders.
3. Place a buy order when there is a generation of a green bar.
4. Limit trading to the second bar that is created in the indicators chart following a change in the color of the bars.
5. Make use of stop level when trading or close your orders when an opposite signal is given; this is determined by your of trading choice.
Conclusion of Waddah Attar Explosion
Waddah Attar Explosion is an indicator that every serious trader should possess because of the significant role it plays in helping to monitor prices. While the installation of the indicator is straightforward, and it is easy to use.
Apart from Waddah Attar Explosion, we have several other highly useful indicators and tools on this platform, so you can check it via this link to enhance your trading skills and improve your chances of making more profits. Ensure that you get one that suits your personality and trading style today.
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