The Forex Waves Signal Pattern indicator for MT4 uses the 1-2-3-4 price action pattern in a bid to identify profitable trend reversals.
The indicator will draws buy & sell signals on the chart once the trading pattern has been formed.
The indicator is very reliable, non-repaint, and will not slow down your trading platform.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
Key Points
- Price action pattern
- Non-repaint buy/sell arrows
- No price lag
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a trend reversal confirmation tool.
Free Download
Download the “waves signal.mq4” MT4 indicator
Indicator Example Chart
The USD/CAD 1-hour chart below shows the Forex Waves Signal Pattern indicator in action.
Basic Trading Signals
Signals from the Forex Waves Signal Pattern indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- A buy signal is given when the white arrow gets printed on the chart.
- Place stop loss below the low of the trading pattern.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
SELL:
- A sell signal is given when the red arrow gets printed on the chart.
- Place stop loss above the high of the trading pattern.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download This Forex Indicator
Download the “waves signal.mq4” MT4 indicator
Adjustable Parameters & Settings
History, channel width, quantity touches, code buy, code sell, signal bar, alerts
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: wave pattern
How to install the Forex Waves Signal Pattern indicator in Metatrader 4?
- Copy and paste the waves signal.mq4 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