The Bos & Choch Metatrader 4 offers straightforward trading signals that align with market trends and reversals.
This indicator accurately signals entry and exit points for both long and short trades across any currency pair of your choice.
Examining the trading chart below, the bullish signal is represented by the blue line, identified as CHOCH, while the bearish signal is indicated by the red line, referred to as BOS.
The MT4 indicator serves effectively as a standalone trading tool or can be used in conjunction with other indicators.
- Identifies both trends and trend reversal.
- It’s a stop and reverse indicator.
- Should work equally well across all time frames.
Test the indicator first on a demo account before running it on a live trading account.
Indicator Example Chart
The EUR/USD 15 min chart below shows the Bos & Choch indicator in action.
Basic Trading Signals
Trading signals from the Bos & Choch indicator are easy to interpret and work as follows:
- Open a buy trade as soon as the blue CHOCH line appears on the activity chart.
- Add a protective stop loss a few pips below the most recent support level.
- Exit the long trade when the red BOS line is displayed on the chart.
- Open a sell trade as soon as the red BOS line appears on the activity chart.
- Add a protective stop loss a few pips above the most recent resistance level.
- Exit the short trade when the blue CHOCH line is displayed on the chart.
Download This Forex Indicator
Adjustable Parameters & Settings
ZigZAG value, show BOS, show CHOCH, display arrows on chart, colors, line style, and more.
Feel free to explore the indicator’s parameters and settings to create your personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works on any time frame
Indicator Type: trading signals
How can the Bos & Choch indicator be installed in Metatrader 4?
- Copy and paste the Bos&Choch .ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
- Restart the trading platform
- Add the indicator to the chart
How to remove the indicator from the chart?
- Right-click on the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button