The Tether Line Forex Signals indicator for Metatrader 4 provides easy to trade buy and sell signals on the activity chart.
After loading the indicator onto the chart, you will notice a signal line that alternates between blue and red color.
A buy signal occurs when the Tether signal line turns back to red color from blue color.
Likewise, a sell signal occurs when the Tether signal line turns back to blue color from red color.
It’s basically that simple.
Please note that the indicator is always active in the market, either with a buy or sell position.
- A red Tether signal line triggers a buy trade position.
- A blue Tether signal line triggers a sell trade position.
- The indicator trades 24 hours a day.
- Can be used on any time frame, from M1 up to the weekly.
- Deploy for scalping, day trading and swing trading purposes.
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
The EUR/AUD 1-hour chart below displays the Tether Line Forex Signals MT4 indicator in action.
Basic Trading Signals
Signals from the Tether Line Forex Signals MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade as soon as the red Tether signal line appears on the chart.
Place a stop loss some pips below the red signal line or use your own preferred stop loss strategy.
Take profit when an opposite signal appears on the chart (start of the blue Tether signal line).
Sell Signal: Open a sell trade as soon as the blue Tether signal line appears on the chart.
Place a stop loss some pips above resistance or use your own preferred stop loss strategy.
Take profit when an opposite signal appears on the chart (start of the red Tether signal line).
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (length) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: Forex signal
Copy and paste the Tether_Line.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)