The Fisherkus Star Signals MT4 indicator is an easy to read buy and sell trading signals indicator for MT4.
The indicator oscillates above and below its zero level (0.00).
Blue stop sign dots suggest the trend is trending up and traders look to open a buy trade.
Conversely, red stop sign dots suggest the trend is trending down and traders look to open a sell trade.
This indicator works for scalping, day trading and swing trading on any currency pair.
The stop sign signals cross above and below the zero level, either blue or red colored (short-term trend signals).
Above the zero line is considered to be bullish price action while below the zero line is considered to be bearish.
The EUR/USD M30 chart below displays the Fisherkus Star Signals forex indicator in action.
Basic Trading Signals
Trading signals from the Fisherkus star signals forex indicator goes as follows:
Buy Signal: Wait for the stop sign signals to cross back above the zero line (blue color). This is the sign to go long the currency pair.
Sell Signal: Wait for the stop sign signals to cross back below the zero line (red color). This is the sign to go short the currency pair.
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 (RangePeriods, Price Smoothing, Index Smoothing, Draw Type, DrawSize) 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 fisherkus-star11-signals.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)