The Super Waves Buy & Sell Forex indicator for MT4 provides interesting trading signals based on Forex waves.
The indicator appears in a bottom chart as lines that cross each other above and below the zero level.
Below, I will show you an example how you can open buy and sell trades with this indicator.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
Key Points
- Based on Forex waves
- Versatile technical indicator
- Good for entry points
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a possible trend reversals confirmation tool.
Free Download
Download the “waves indicator.ex4” MT4 indicator
Indicator Example Chart
The EUR/USD 5-minutes chart below shows the Super Waves Buy & Sell trading indicator in action.
Basic Trading Signals
Signals from the Super Waves Buy & Sell Forex indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- Open a buy position when the orange colored wave line crosses the red line bottom-up.
- Place stop loss below immediate support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
SELL:
- Open a sell position when the orange colored wave line crosses the red line top-down.
- Place stop loss above immediate resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download This Forex Indicator
Download the “waves indicator.ex4” MT4 indicator
Adjustable Parameters & Settings
Colors, style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: waves oscillator
How to install the Super Waves Buy & Sell indicator in Metatrader 4?
- Copy and paste the waves 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