The SDL Mam Trend MT4 indicator is an oscillator based reversal trend forex trading indicator that really works.
The indicator is used to follow the trend of the market. It is also known to generate buy/sell signals that are in counter trend direction.
However, the indicator is known to change its color between blue and red in response to the direction of the market.
Search for buying opportunities only when the SDL Mam Indicator is in positive territories and do same for selling opportunities when the market is in negative territory.
The EUR/USD H1 chart below displays the SDL Mam Indicator Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the dual colored line of the SDL Mam Indicator Metatrader 4 forex indicator gets aligned above the zero center line i.e. the yellow line.
Sell Signal: Go short when the dual colored line of the SDL Mam Indicator Metatrader 4 forex indicator gets positioned below the zero signal level (the yellow horizontal line).
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the dual colored line of the SDL Mam Indicator declines to breaks below the zero center line.
Exit sell trade: Close all sell orders if while a bearish trend is running, the dual colored line of the SDL Mam Indicator jumps above the zero signal level.
Tips: The SDL Mam Indicator can be deployed as a scalping tool, as well as a technical indicator deployed when trading medium term signals.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (period, method, price), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the sdl-mam-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)