The FX Market Signals MT4 indicator provides traders with 4 different forex signals on the main trading chart.
They work on the following timeframe’s: M1, M5, M15, M30, H1 and H4.
The indicator calculates and displays the current trend based on the following trading indicators or systems:
- MA crossover system
- CCI indicator
- TMA indicator
- RSI indicator
- Stochastic indicator
- A green up arrow represents a buy signal.
- A red down arrow represents a sell signal.
Tip: For the best trading results, wait for all arrows to become either all green (strong uptrend) or red (strong downtrend).
Furthermore, the indicator displays the current market rate in fig font.
The EUR/USD 4-Hour chart below displays the FX Market Signals Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the FX Market Signals MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Initiate a buy trade when all FX Market Signals are colored green for a specific timeframe.
For instance, consider to go long when all H4 signals are colored green. This represents a strong buy signal.
Sell Signal: Initiate a sell trade when all FX Market Signals are colored red for a specific timeframe.
For instance, consider to go short when all H1 signals are colored red. This represents a strong sell signal.
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 (MA fast, MA slow, TMA fast, TMA slow, RSI period, CCI period, Stoch K period, Stoch D period) 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 fx-market-signals.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)