The Extreme Trend Explosion Forex indicator for Metatrader 4 delivers buy & sell signals with alerts for scalpers and day traders.
The indicator provides the actual trade entry signals along with the exit signal alerts (alert exit long and alert exit short).
This scalping indicator tends to work the best during the London & New York trading sessions on the lower spread currency pairs.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
Key Points
- Scalping indicator
- Non-repaint
- Delivers entry & exit signals
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a short-term buy/sell entry confirmation tool.
Free Download
Download the “WAExplosion.ex4” MT4 indicator
Indicator Example Chart
The EUR/USD 15-minutes chart below shows the Extreme Trend Explosion trading indicator in action.
Basic Trading Signals
Signals from the Extreme Trend Explosion Forex indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- A buy signal is given when the histogram changes colored from red to green (bullish trend).
- Place stop loss below short-term support.
- Aim for 8-15 pips per trade profit or wait for the indicator to provide the exit buy signal.
SELL:
- A sell signal is given when the histogram changes colored from green to red (bearish trend).
- Place stop loss above short-term resistance.
- Aim for 8-15 pips per trade profit or wait for the indicator to provide the exit sell signal.
Download This Forex Indicator
Download the “WAExplosion.ex4” MT4 indicator
Adjustable Parameters & Settings
Sensitivity, dead zone pip, explosion power, trend power, alert window, alert long, alert short, alert exit long, alert exit short
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: scalping
How to install the Extreme Trend Explosion indicator in Metatrader 4?
- Copy and paste the WAExplosion.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