Price Reversal Signal Metatrader 4 Forex Indicator

The Price Reversal Signal forex indicator delivers short-term buy and sell trend reversal signals on the activity chart.

It works well for scalpers and intraday traders looking to take advantage of short-term price reversals.

How it works?

A green signal dot suggests the short-term trend reverses from bearish to bullish while a red dot suggests the short-term trend reverses from bullish to bearish.

For best performance, trade the Price Reversal Signal Metatrader 4 indicator together with a longer-term trend following indicator.

For instance, the 75 period exponential moving average would fit.

In an up trending market, trade the green price reversal dots while in a down trending market the red dots.

Avoid to trade against the longer-term trend.

Free Download

Download the closing-price-reversal.mq4” MT4 indicator

Example Chart

The EUR/USD 5-Minute chart below displays the Price Reversal Signal Metatrader 4 Forex indicator in action.

Basic Trading Signals

Signals from the Price Reversal Signal MT4 forex indicator are easy to interpret and goes as follows:

Buy Signal: Initiate buy trade position when a green price reversal dot appears on the chart and the overall trend is upward.

Sell Signal: Initiate sell trade position when a red price reversal dot appears on the chart and the overall trend is downward.

Trade Exit: Use your own method of trade exit.

Download

Download the closing-price-reversal.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (alerts) 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 reversal

Installation

Copy and paste the closing-price-reversal.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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