The Two Pole Super Smooth Filter forex MT4 indicator is an moving average type trading indicator with smoothing filter that can be modified.
Price action above the Two Pole Super Smooth Filter indicator suggests an up trending market.
Price action below the Two Pole Super Smooth Filter indicator suggests an down trending market.
For best trading practices, use this trend following indicator together with an oscillator.
For example, MACD or slow Stochastic would work in this case.
The default indicator CutoffPeriod value can be modified directly from the indicator’s inputs tab. Tweak its setting to fully fit your needs.
This forex indicator works best to find and trade short-term trade opportunities (scalping and intra day trading).
The USD/JPY H1 chart below displays the Two Pole Super Smooth Filter forex indicator in action.
Basic Trading Signals
Signals from the Two Pole Super Smooth Filter MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open long trade when the currency pair price crosses and closes above the red indicator line.
Sell Signal: Open short trade when the currency pair price crosses and closes below the red indicator line.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (CutoffPeriod) 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 two-pole-super-smoother-filter.mq4 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)