Critical Signals Metatrader 4 Forex Indicator
The Critical Signals Metatrader 4 indicator is a versatile trend-following forex indicator for Metatrader 4.
It provides buy and sell signals on any pair and displays the most important Fibonacci levels on the activity chart.
Price action above the red Critial Signal line indicates the trend is up and we’re looking to buy the pair.
Price action below the red Critial Signal line indicates the trend is down and we’re looking to sell the pair.
In case you have missed the signal, the Fibonacci levels drawn on the chart would help to get you in a profitable trading position.
Traders look to get into a position around the popular 38.2% Fibonacci level in both up trends and down trends.
This signals indicator works for scalping, day trading and swing trading.
The EUR/USD M15 chart below displays the Critical Signals forex indicator in action.
Basic Trading Signals
Signals from the Critical Signals MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy position when price crosses and closes above the red critical signals line (bullish).
Sell Signal: Open sell position when price crosses and closes below the red critical signals line (bearish).
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
Tip: In up trending markets, you can buy on dips towards the 38.2% Fibonacci level (buy on dips).
In down trending markets, you can sell on rallies towards the 38.2% Fibonacci level (sell on rallies).
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (MAPeriod, MAType, Fib1, Fib2, Fib3, Fib4, Fib5) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Signals | Fibonacci
Copy and paste the critical-signals.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)