The Price Movement Trend Signals forex indicator for Metatrader 4 gives buy and sell trading signals based on value degrees of price movements.
The indicator shows you the price movement degree, the current forex signal (buy or sell), trend power, time until next bar and the current time.
- A buy signal occurs when the indicator sends out a buy alert.
- A sell signal occurs when the indicator sends out a sell alert.
The current signal and other trading information is visible on the main MT4 trading chart.
The indicator can be used as a standalone or together with other technical indicators or with price action.
Works for any timeframe and currency pair.
You can change the look and feel of the indicator. Go to the indicator’s inputs settings.
The EUR/USD 1- Hour chart below displays the Price Movement Trend Signals Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Price Movement Trend Signals MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Initiate buy trade position when the Price Movement Trend Signals MT4 indicator sends out a buy trade alert. Place a protective stop below the previous swing low price.
Sell Signal: Initiate sell trade position when the Price Movement Trend Signals MT4 indicator sends out a sell trade alert. Place a protective stop above the previous swing high price.
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 (info position degree, linear regression line, message alert, email alert) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend signals
Copy and paste the PriceMovementDegrees.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)