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Elder Impulse System Metatrader 4 Forex Indicator

The Elder Impulse System Metatrader 4 forex indicator provides tradable price bars in a separate trading window.

Scalpers and day traders will like this system.

The Elder forex system is composed of a 13-period exponential moving average and MACD histogram.

For the ease of use, the Elder system was transferred into a colored price bar histogram.

It can be used across any timeframe of your choice but should be traded in agreement with the overall trend.

Combine with a trend following indicator and trade in the direction of the prevailing trend.

Ignore signals against the trend.

Free Download

Download the elder-impulse-system.mq4” MT4 indicator

Example Chart

The EUR/USD Hourly chart below displays the Elder Impulse System Forex Metatrader 4 indicator in action.

Basic Trading Signals

Signals from the Elder Impulse System MT4 forex indicator are easy to interpret and goes as follows:

Buy Signal: Open buy trade when the prevailing trend is bullish and the Elder Impulse System draws a green price bar.

Sell Signal: Open sell trade when the prevailing trend is bearish and the Elder Impulse System draws a red price bar.

Blue bars: Stick with the current open position or wait for a new trade opportunity.

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


Download the elder-impulse-system.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (Show Bars) 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


Copy and paste the elder-impulse-system.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)