Sadukey Metatrader 4 Indicator
The Sadukey indicator is another trend following indicator developed for the Metatrader 4 platform. Red dots indicate an uptrending market. Blue dots indicate a downtrending market. Use in conjunction with other technical analysis tools to create a complete forex trading system.
Stop Loss Placement
A stop loss will be placed a few pips above the first blue dot for sell trades. On the contrary, a stop loss will be placed a few pips below the first red dot for buy trades. Trail your stop 1 pip below the red dots for buy trades. Trail your stop 1 above the blue dots for sell trades.
EUR/USD Daily Chart Example