in this video we're going to talk about an indicator that you can use to identify bullbox within the bullish and bearish trends of a financial asset this indicator is particularly useful for Traders who love trading Trend following strategies stay tuned to the end of the video because we're going to combine this indicator with an existing strategy so you can have a better understanding of how you can also incorporate it into your own trading system if you find Value in this video remember to leave a like let's get into it now this indicator is called the Indian oscillator to add it your chart go to trading View and open any Forex pair that you like to trade in any time frame for me I'm going to be using USD CAD then click on indicators type in andn oscillator and it's going to be this one by Alex Grover now the Nan oscillator is a technical indicator it's designed to measure and highlight the degree of variations in individual uptrends and downtrends in the price of a financial asset such as a stock or a currency pair this indicator is particularly useful for Traders who want to identify the strength and direction of the current Trend in the market now let's take a look at what it's made of this indicator is super simple as you can see it's composed of three components the green red and yellow lines on the chart the green line is called the bullish component the red line is the bearish component and the yellow line is the signal line when the bullish component rises above the bearish component it indicates the presence of bullish price variations this suggests that the market is in a bullish Trend and Traders can expect new higher highs in the price conversely when the bearish component rises above the bullish component it indicates bearish price variations this suggest that the market is in a bearish trend and Traders can expect new lower lows in the price now what is the purpose of the signal line well the signal line provides a more refined interpretation of this indicator it can be used in several ways including as a filter to reduce the signals generated by the crosses between the bullish and the bearish components Traders may consider entering a position when the bullish or bearish component crosses over the signal line as this can help confirm the trend direction looking at the settings of this indicator we can see very few customizable op options we can change the length which will increase or reduce the indicator's sensitivity to price fluctuations a lower length like 10 will make the indicator more sensitive to price and produce more crossovers between the green and red lines we do not want too many signals so we're going to keep this at 50 increasing it to a higher number like 200 will capture longer term Market trend for a balance of both we're going to stick with 50 the signal length affects the length of the signal line in the strategy I'm going to be showcasing in this video we're not going to be using the signal line so we won't be changing this number in fact let's go to the style Tab and disable the signal line after that click okay next we will explore how we can use this indicator to trade but before that let's talk about hker trade now you may be thinking and what exactly is hker trade well hker trade is one of the most reliable Forex Brokers out there and for that reason I Ed them every single day as you can see here this is my trading history I mainly scalp gold and up here you can see that this is actually a live account the reason why I love hker trade so much is because of their extremely low commissions and spreads on Forex for example the spreads can go as low as 0.0 Pips which is actually the lowest spreads can go and for those of you who love High leverage guess what hker trade offers a maximum leverage of 1 to 500 and if that's not enough they're also going to give you a 100% bonus for all your first deposits up to $255,000 so if you deposit say $500 they're going to give you a bonus of $500 so in total you'll have $11,000 to trade with to access the bonus as well as all the other perks sign up to hker trade using the link in the video description now back to the video one of the methods that we can use to trade with this indicator involves entering a long position when the bullish component you know this green line crosses above the bare is [Music] component conversely to enter a short position we wait for the bearish component the red line to cross above the bullish component and then we enter our position however trading with this indicator this way is not advisable because many false signals are generated when the market is ranging to address this we're going to add a long-term Trend filtering tool and a buy sell signal indicator draw chart open the indicator search Tab and type in Lawrence activator select this one created by Alex Grover next type in uh LMA crossover and select this one by Alex Grover then double click on the GLA indicator which is this Buy sell signals indicator then on the input subab change the length to 500 for the multiplier we're going to change it to two then inside the style tab disable the activator option the buy Circle and the cell Circle then click okay for the uh LMA indicator we're going to stick with its default settings the uh LMA indicator is a version of the moving average we're going to be using it to identify long-term trends in the market a bullish trend is identified when the blue moving average is above the red moving average with the area in between them filled with blue conversely a bearish trend is identified when the blue moving average is below the red moving average and the area between them is filled with red the GLA indicator is going to be used to generate the buy and sell entry signals when it says buy we buy when it says sell we sell pretty self-explanatory now let me show you an example of how we can use these three indicators to enter a long position for a long position first we want to confirm that the market is in a bullish trend using the uh LMA indicator how we're going to do that is as mentioned earlier you just make sure that the blue moving average is above the red moving average and the area in between is colored blue this indicates a bullish Trend second we need to identify a pullback within this bullish trend for that we're going to focus on the Indian oscillator we want to make sure that this green line goes below the red line and then back above the red line this and indicates a market pullback for the pullback to be valid the price should not touch this red moving average of the uh LMA indicator so basically from here to here none of these candles should touch this red line next we want a buy signal to be printed by the GLA indicator this is going to represent our entry candle as a final confirmation we can see that there was a resistance level right here and the price broke above it and later did a retest of that level this is going to increase the probability of the price heading in the direction of our trade all our entry conditions are met on this candle so we're going to enter a long position set the stop loss below the most recent swing low for the takeprofit we're going to set it at two times the risk we let this trade run and it hits take profit now for a short position we're going to do the opposite so first we want to confirm that the market is in a bearish trend to do that you just make sure that this blue moving average of the uh LMA indicator is below the red moving average in the area in between them is colored red this indicates a bearish trend second we need to identify a pullback within this bearish trend for that we're going to focus on the NN oscillator we want to make sure that this green line goes above the red line and then back below the red line this indicates a market pullback for the pullback to be valid the price should not touch the blue moving average of the uh LMA indicator so from here all the way to here none of these candles should touch the Blue Line next we want a cell signal to be printed by the GL indicator this is going to represent our entry candle as our final confirmation we can see that there was a resistance level right here and the price rejected off it multiple times this is going to increase the probability of the price heading in the direction of our trade all our entry conditions are met on this candle so we're going to enter our short position set the stop loss right above the most recent swing high for the takeprofit we're going to set it at two times the risk we let this trade run and take profit in summary the Indian oscillator or the Indian oscillator is a technical tool that quantifies and visualizes the degree of price variations in both uptrends and downtrends Traders can use its components as well as the signal line to assess the direction and strength of the current market Trend if you're interested in this particular trading tool you can check it out on trading View and use it alongside your own trading strategy I hope you found some value in this video if you did hit the like button below and consider subscribing to stay tuned thanks for watching see you next time