The DSS Bressert forex indicator for metatrader 4 is composed of the Stochastic and EMA trading indicator.
The indicator oscillates between 0 and 100 readings.
The DSS Bressert MT4 indicator draws colored dots in a separate window below the main activity chart.
Blue dots indicate the trend is short-term bullish and we’re looking for buy trade opportunities.
Conversely, red dots indicate the trend turned short-term bearish and we’re looking for sell trade opportunities.
This indicator works for scalping, day trading and swing trading on any currency pair.
For reliable trading signals, use this indicator together with a longer-term period trend-following indicator such as a 200 period moving average.
Trade in the overall direction as indicated by the trend-following indicator.
Trend up? Only trade buy signals from the DSS Bressert indictor.
Trend down? Only trade sell signals from the DSS Bressert indictor.
The GBP/USD H4 chart below displays the DSS Bressert forex indicator in action.
Basic Trading Signals
Signals from the DSS Bressert forex indicator are easy to interpret and goes as follows:
Buy Signal: Wait for indicator readings to turn back down to the 0-20 level (oversold market conditions). Then wait until the first blue dot pops up and go long.
Sell Signal: Wait for indicator readings to turn back up to the 80-100 level (overbought market conditions). Then wait until the first red dot pops up and go short.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (EMA Period, Stochastic Period) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Signals | Oscillator
Copy and paste the dss-bressert-colored.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)