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Price Reversal Signal Metatrader 4 Forex Indicator

    The Price Reversal Signal forex indicator delivers short-term buy and sell trend reversal signals on the activity chart.

    It works well for scalpers and intraday traders looking to take advantage of short-term price reversals.

    How it works?

    A green signal dot suggests the short-term trend reverses from bearish to bullish while a red dot suggests the short-term trend reverses from bullish to bearish.

    For best performance, trade the Price Reversal Signal Metatrader 4 indicator together with a longer-term trend following indicator.

    For instance, the 75 period exponential moving average would fit.

    In an up trending market, trade the green price reversal dots while in a down trending market the red dots.

    Avoid to trade against the longer-term trend.

    Free Download

    Download the closing-price-reversal.mq4” MT4 indicator

    Example Chart

    The EUR/USD 5-Minute chart below displays the Price Reversal Signal Metatrader 4 Forex indicator in action.

    Basic Trading Signals

    Signals from the Price Reversal Signal MT4 forex indicator are easy to interpret and goes as follows:

    Buy Signal: Initiate buy trade position when a green price reversal dot appears on the chart and the overall trend is upward.

    Sell Signal: Initiate sell trade position when a red price reversal dot appears on the chart and the overall trend is downward.

    Trade Exit: Use your own method of trade exit.

    Download

    Download the closing-price-reversal.mq4” Metatrader 4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: Chart pattern indicator

    Customization options: Variable (alerts) 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 reversal

    Installation

    Copy and paste the closing-price-reversal.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)