Spectrometer Metatrader 4 Forex Indicator

The Spectrometer MT4 forex indicator draws colored lines in a separate trading window.

The indicator lines oscillate between 0.04 and -0.04 values.

Currency traders can use this forex indicator in various ways but I like to use it like this:

  • When the red thick Spectrometer line crosses above the zero line from below, look for buy trade opportunities
  • When the red thick Spectrometer line crosses below the zero line from above, look for sell trade opportunities

Free Download

Download the spectrometer.mq4” MT4 indicator

Example Chart

The EUR/USD D1 chart below displays the Spectrometer forex indicator in action.

Basic Trading Signals

Signals from the Spectrometer forex MT4 indicator are easy to interpret and goes as follows:

Buy Signal: Open buy position when the red thick Spectrometer line crosses above the zero line from below.

Sell Signal: Open sell position when the red thick Spectrometer line crosses below the zero line from above.

Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.

Download

Download the spectrometer.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern

Customization options: Variable (iPeriod, iStartFrom) Colors, width & Style.

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

Type: Oscillator

Installation

Copy and paste the spectrometer.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)

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