The Key Level Forex indicator for mt4 (Metatrader 4) analyses the chart and provides two key levels for both long and short trade price breakout.
The indicator appears on the main MT4 chart as two horizontal lines, the upper red line for long breakout and the lower red line for short breakout.
Buy and sell trade idea:
- Open a buy trade as soon as price closes above the upper red key level line.
- Open a sell trade as soon as price closes below the lower red key level line.
This indicator can be uses as a standalone trading tool for both buy and sell trades.
Free Download:
Download the “Key_level_indicator.ex4” indicator for MT4
Indicator Example Chart (EUR/USD H1)
The picture below shows the Key Level mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Key Level Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Key levels
Does the indicator repaint? No.
Download Now:
Download the “Key_level_indicator.ex4” indicator for Metatrader 4
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the Key_level_indicator.ex4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.