The Forex Prediction Metatrader 4 indicator forecasts the trend of any currency pair for any timeframe.
The indicator analyses the trend for 7 different timeframes (M1, M5, M15, M30, 1H, 4H and 1D) and displays the outcome in a separate MT4 window below the main chart.
Based on the outcome, the Forex Prediction indicator draws a buy or sell arrow in real-time on the main activity chart.
- A buy signal occurs when there are more buyers than sellers in the market.
- Forex Prediction draws a buy arrow on the main chart.
- A sell signal occurs when there are more sellers than buyers in the market.
- Forex Prediction draws a sell arrow on the main chart.
This is a good indicator for short-term trading purposes.
Use it for scalping and intra-day trading.
For swing trading, confirm your Forex Prediction trades with price action or other technical indicators.
The EUR/USD 5-Minute chart below displays the Forex Prediction Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Forex Prediction MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy scalp or buy intraday trade when the Forex Prediction MT4 indicator draws a buy arrow on the chart. Place stop-loss below short-term support.
Sell Signal: Open a sell scalp or sell intraday trade when the Forex Prediction MT4 indicator draws a sell arrow on the chart. Place stop-loss above short-term resistance.
Trade Exit : Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (trigger level) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the forex-prediction.mq4 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)