The Buyers versus Sellers MT4 indicator displays the buyers versus sellers trend in a mini dashboard window.
It gives us the trend bias for the following time frames: 1-minute, 5- minute, 15-minute, 30-minute, 1-hour, 4-hour and daily.
The Buyers versus Sellers Metatrader 4 indicator does the calculation and displays the trend bias outcome for all aforementioned time frame’s.
- A green number indicates there are more buyers than sellers in the market and the trend is upward
- A red number indicates there are more sellers than buyers in the market and the trend is downward
When it comes to trading, look for extreme red and green numbers above 90%.
Here’s the trend the strongest, either up or down.
Furthermore, the indicator displays the final trend outcome in a separate MT window.
Green bars represent a bullish trend while red bars a bearish trend.
The GBP/USD Daily chart below displays the Buyers versus Sellers Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Buyers versus Sellers MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: The Buyers versus Sellers signal indicator must display a green number at or above 90%. Confirm the buy trade with additional trading tools.
Sell Signal: The Buyers versus Sellers signal indicator must display a red number at or above 90%. Confirm the sell trade with additional trading tools.
Trade Exit: Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (bvSP period, show histogram, show delta) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the buyers-vs-sellers.ex4 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)