NXC Slope Divergence Metatrader 4 Forex Indicator
The NXC Slope Divergence Metatrader 4 indicator is a slope indicator based on divergence between price and NXC trading indicator.
It is a pure no lag price action forex indicator.
Moreover, the indicator draws the NXC slope channel in separate MT4 window for double bullish or bearish trend confirmation.
Bullish confirmation: the center line of the slope indicator must be aligned above the 0.00 line.
Bearish confirmation: the center line of the slope indicator must be aligned below the 0.00 line.
An upwards trend is seen when the slope of the channel is pointing to the upside. In this case, we will be looking for possible buy signals near the bottom of the trading channel.
An downwards trend is seen when the slope of the channel is pointing to the downside. In this case, we will be looking for possible sell signals near the top of the trading channel.
Feel free to experiment with the NXC Slope Divergence indicator settings to suit your needs.
You can do so directly from the indicator’s inputs menu.
The USD/JPY H4 chart below displays the NXC Slope Divergence forex indicator in action.
Basic Trading Signals
Signals from the NXC Slope Divergence forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy order near the bottom of the channel when the NXC Slope Divergence channel is pointing upwards AND the center line of the slope indicator is positioned above the 0.00 line.
Sell Signal: Open sell position near the top of the channel when the NXC Slope Divergence channel is pointing downwards AND the center line of the slope indicator is positioned below the 0.00 line.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (Timeframe, Ndx Period, SmoothPhase, NdxPrice) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Price Action
Copy and paste the nxc-slope-divergence.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)