The Intraday forex MT4 indicator provides useful information directly on the chart for scalpers and day traders.
Use it on the lower timeframe’s such as the M1, M5 and M15 charts.
The Intraday indicator displays the trend in the form of a trend channel.
When the channel points to the downside, the trend is down and intraday traders look for sell trade opportunities.
When the channel points to the upside, the trend is up and intraday traders look for buy trade opportunities.
The indicator also connects the high and low price points with each other.
The EUR/USD M15 chart below displays the intraday forex indicator in action.
Basic Trading Signals
See description above for more information on how to use this trading indicator.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (Hour_Begin_Day, Asian_end_hour, Europe_end_hour, ExtDepth, perATR, m, kkk) 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 intraday-indicator.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)