Hikkake Pattern Forex Indicator (Total size: 4.1 MB Contains: 1 folder 6 files)

Introducing the Hikkake Pattern Forex Indicator

MT4 Forex Indicator Overview

The  Hikkake Pattern MT4 forex indicator is placed at the end of this post. Once you’re done, your trading chart should look similar to the example below.

The general idea behind that forex indicator is that price makes a false breakout from a rangebound, only to reverse and move in the original direction quickly. This action creates a so-called hikkake pattern on the chart, and this name means a “trap” in Japanese.

As you can see, it consists of two moving average lines, one solid and the second dotted. During an uptrend, a selling opportunity occurs when the price touches or crosses below the dotted line. Conversely, the price crossing above the dotted line indicates a potential buying opportunity. Usually, the profit target is a few candles above or below after crossing the opposite blue line.

An aspect worth paying attention to is the distance between these two lines. The higher the gap, the better. Avoid trading during the very tight alignment of these two.

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Hikkake Pattern Forex Indicator (Total size: 4.1 MB Contains: 1 folder 6 files)

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