Forex Signals Trader Metatrader 4 Indicator

The Forex Signals Trader indicator for MT4 is a channel based buy and sell arrow signals indicator.

The indicator is built to take advantage of short-term market movements. So, use it for scalping or day trading purposes.

  • A green arrow represents a buy signal and it’s always drawn near the bottom of the channel.
  • A red arrow represents a sell signal and it’s always drawn near the top of the channel.

It’s a wise idea to confirm the buy/sell trade with other forex indicators or with price action.

Free Download

Download the forex-signals.mq4” MT4 indicator

Example Chart

The EUR/USD 1-Hour chart below displays the Forex Prediction Metatrader 4 indicator in action.

Basic Trading Signals

Signals from the Forex Signals Trader MT4 indicator are easy to interpret and goes as follows:

Buy Signal: Open a new buy trade when a green arrow appears on the chart. This is a bullish signal. Place a protective stop-loss below the channel and take profit at the upper channel line.

Sell Signal: Open a new sell trade when a red arrow appears on the chart. This is a bearish signal. Place a protective stop-loss above the channel and take profit at the lower channel line.

Download

Download the forex-signals.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (signal gap, show bars) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: trend

Installation

Copy and paste the forex-signals.mq4 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)

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