The Quadrilateral Forex Indicator (MT4) is a non-repaint pure price action technical tool that draws interesting bullish/bearish trading patterns on the chart.
The indicator appears in the main trading chart as a yellow colored technical trading pattern channel wrapped around the candlesticks.
This type of indicators might give you an early idea of where to open and close trades.
Key Points
- Draws trading patterns on the chart.
- Can give you an early indicator on where to open and exit trades.
- Can work as a standalone buy/sell indicator.
- Works for any trading instrument.
Free Download
Download the “quadrilateral-indicator.ex4” MT4 indicator
Indicator Example Chart
The EUR/USD H1 chart below shows the Quadrilateral Forex indicator in action.
Basic Trading Signals
Signals from the Quadrilateral indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- Initiate a buy trade when price reaches the lower trading pattern line and the Quadrilateral indicator is sloping upwards.
- Set a stop loss below the trading pattern.
- Exit the buy trade at the upper yellow trading pattern line or utilize your own take profit strategy.
SELL:
- Initiate a sell trade when price reaches the upper trading pattern line and the Quadrilateral indicator is sloping downwards.
- Set a stop loss above the trading pattern.
- Exit the sell trade at the lower yellow trading pattern line or utilize your own take profit strategy.
Download This Forex Indicator
Download the “quadrilateral-indicator.ex4” MT4 indicator
Adjustable Parameters & Settings
Show all, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Pattern
How to install the Quadrilateral indicator in Metatrader 4?
- Copy and paste the quadrilateral-indicator.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button