The Super Forex Launcher indicator for MT4 is a complete trading system with buy and sell signals based on channel slope trading.
Super Forex Launcher takes the overall trend into account + the slope of the channel.
- A buy signal occurs when the overall trend is up and the slope of the channel is upward.
- A sell signal occurs when the overall trend is down and the slope of the channel is downward.
The indicator will give you notifications on the chart.
For example, channel is powerful – S/R levels in action. Take only long trades.
Feel free to use this indicator together with other technical indicators (oscillators, momentum) or price action methods.
The GBP/USD H1 chart below displays the Super Forex Launcher Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Super Forex Launcher MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Go long when the Super Forex Launcher indicator displays “Take only LONG trades”.
Enter long when the currency pair price falls back between the two green lower channel lines.
Take profit at the middle line or between the two upper red channel lines.
Place a stop loss below the low of the channel or use your own preferred SL method.
Sell Signal: Go short when the Super Forex Launcher indicator displays “Take only SHORT trades”.
Enter short when the currency pair price rises back between the two red upper channel lines.
Take profit at the middle line or between the two lower green channel lines.
Place a stop loss above the high of the channel or use your own preferred SL method.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (use close, bars to count) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: channel signals
Copy and paste the Launcher Directional 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)