The Cougar Forex indicator for Metatrader 4 takes advantage of rapid changes in short-term trends and plots the accompanying buy/sell arrows on the chart.
The indicator works the best for scalpers and day traders when combined with a longer-term moving average.
The Cougar FX indicator is beginner friendly and does not repaint its signals.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
Key Points
- Good for scalping
- Good for day trading
- Does not repaint
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system.
Free Download
Download the “CougarTr1.ex4” MT4 indicator
Indicator Example Chart
The AUD/USD 1-hour chart below shows the Cougar Forex indicator in action.
Basic Trading Signals
BUY:
- Open a buy trade when the blue colored signal arrow appears on the chart.
- Place stop loss below short-term support.
- Exit the buy trade for a predetermined profit target.
SELL:
- Open a sell trade when the red colored signal arrow appears on the chart.
- Place stop loss above short-term resistance.
- Exit the sell trade for a predetermined profit target.
Download This Forex Indicator
Download the “CougarTr1.ex4” MT4 indicator
Adjustable Parameters & Settings
Alert popup, size, colors, style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: scalper
How to install the Cougar indicator in Metatrader 4?
- Copy and paste the CougarTr1.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)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button