The SSRC Indicator Metatrader 4 forex indicator is a simple overbought/oversold technical indicator that works, even for beginners.
A buy/sell alert is triggered in the region of oversold/overbought levels and the SSRC indicator is known to be more accurate than the Stochastic at 8, 3, 3 settings.
The SSRC Indicator will mimic price, thus providing updated signals on current market movements.
It shows a lime line within a separate window that runs through the varying alert levels.
These critical levels are -0.9, -0.75, +0.75 and +0.9.
Price is said to be oversold when it is driven below -0.9 level and overbought when it jumps above the 0.9 level.
The USD/CAD M15 chart below displays the SSRC Indicator Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the lime line of the SSRC Indicator Metatrader 4 forex indicator breaks above the zero signal level.
Sell Signal: Go short when the lime line of the SSRC Indicator Metatrader 4 forex indicator dips below the zero center level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the lime line of the SSRC Indicator dips below the zero signal level.
Exit sell trade: Close all sell orders if while a bearish trend is running, the lime line of the SSRC Indicator breaks above the zero center level.
Tips: The SSRC indicator is a perfect scalping tool when used in combination with other indicators on lower charts of M1, M5, and M15.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (SnakeRange, FilterPeriod, MartFiltr, PriceConst), 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 ssrc-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)