The Kuskus Starlight Indicator Metatrader 4 forex indicator is an oscillator designed to offer traders the much needed information on trend direction.
Just like the name suggests, the indicator produces starlight shaped bodies to form a slope that runs above or below the zero reference level.
Interestingly, the starlight shaped bodies are seen to alter their color between blue (when the starlight shaped bodies are above the zero reference level) and red (when the starlight shaped bodies are below the zero signal level).
Learn below how to buy and sell pairs with this indicator.
The USD/CAD M15 chart below displays the Kuskus Starlight Indicator Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the blue starlight shaped bodies of the Kuskus Starlight Indicator Metatrader 4 forex indicator gets aligned above the zero signal level.
Sell Signal: Go short when the red starlight shaped bodies of the Kuskus Starlight Indicator Metatrader 4 forex indicator forms below the zero signal level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the Kuskus Starlight Indicator pops up a red starlight slightly below the zero level.
Exit sell trade: Close all sell orders if while a bearish trend is running, the Kuskus Starlight Indicator displays a blue starlight somewhat above the zero level.
Tips: Forex traders tend to simply hate what they do not understand and the Kuskus Starlight Indicator does not fall into that category of indicators that are hard to grasp.
It has a simple design that eases the stress traders’ deal with when trying to sort buy and sell market signals.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (RangePeriods, PriceSmoothing, IndexSmoothing, Draw Type, Draw Size), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend | oscillator
Copy and paste the kuskus-starlight-indicator.ex4 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)