The VQ Candlestick Bars Metatrader 4 forex indicator is built on moving averages, as shown within its MT4 code.
It is an indicator that helps determine trend direction and possible reversals.
It is a visually scintillating indicator that gets displayed within the activity chart as green or red bars.
These colored bars are superimposed on the candlesticks.
A green bar defines a bullish trend while a red bar points to a bearish signal.
The VQ Bars indicator is suitable for any timeframe and currency pair.
Works for scalping, day trading and swing trading purposes.
The EUR/USD H1 chart below displays the VQ Candlestick Bars Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the VQ Candlestick Bars Metatrader 4 forex indicator displays green bars within the activity chart.
Sell Signal: Go short when the VQ Candlestick Bars Metatrader 4 forex indicator displays red bars within the price chart.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the VQ Bars indicator displays a red bar.
Exit sell trade: Close all sell orders if while a bearish trend is running, the VQ Bars indicator pops up a green bar.
Tips: Using the VQ Candlestick Bars indicator can offer forex traders a serious advantage when executing a trading strategy.
Traders can always stay in the know as to when a trend is beginning and when a reversal is also occurring.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (Length, Method, Smoothing, Filter, Steady), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend | reversals
Copy and paste the vq-bars.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)