The Trade Assistant Metatrader 4 forex indicator is a buy and sell multi-timeframe indicator that is based on a mix of Stochastic, RSI and CCI.
Trade Assistant displays buy and sell arrows based on the aforementioned technical indicators.
A strong buy signal occurs when all arrows are colored green, it means that the trend is positive for Stochastic, RSI and CCI.
A strong sell signal occurs when all arrows are colored red, it means that the trend is negative for Stochastic, RSI and CCI.
Tip: Smart forex traders confirm the buy/sell trend on the higher timeframe.
For instance, when trading off the 1-minute chart, check the trend on the 5-minute chart as well.
When the trend is both positive for the M5 and M1 timeframe (all indicators green), this indicates a strong buy signal on the M1 chart.
On the contrary, when the trend is both negative for the M5 and M1 timeframe (all indicators red), this indicates a strong sell signal on the M1 chart.
The EUR/USD 1-Hour chart below displays the Trade Assistant Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Trade Assistant MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Initiate buy order when ALL indicators (Stochastic, RSI and CCI) display a green colored arrow. This represents a strong buy trend.
Sell Signal: Initiate sell order when ALL indicators (Stochastic, RSI and CCI) display a red colored arrow. This represents a strong sell trend.
Trade Exit : Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Stochastic settings, RSI settings, CCI) Colors, 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 trade-assistant.mq4 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)