The Wave Entry Alerts Forex indicator for MT4 identifies interesting price levels where a trend reversal might occur.
It will add an alert circle on the chart where the trend reversal might occur.
This indicator works the best when combined with simple candlestick patterns.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
- Trend reversal indicator
- Low risk trade entries
- Combine with candlestick patterns
- 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.
Indicator Example Chart
The EUR/USD 15-minutes chart below shows the Wave Entry Alerts indicator in action.
Basic Trading Signals
Signals from the Wave Entry Alerts Forex indicator for Metatrader 4 are easy to interpret and goes as follows:
- A trend reversal buy signal is given when the green circle + alerts appears on the chart. Confirm the buy trade with candlestick patterns.
- Place stop loss below support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
- A trend reversal sell signal is given when the red circle + alerts appears on the chart. Confirm the sell trade with candlestick patterns.
- Place stop loss above short-term resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download This Forex Indicator
Adjustable Parameters & Settings
Period 1, period 2, step 1, step 2, box alerts, email alerts, sound alerts
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: trend reversal
How to install the Wave Entry Alerts indicator in Metatrader 4?
- Copy and paste the Wave Entry Alerts.mq4 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