The Yefekt Signals Metatrader 4 forex indicator is a technical indicator that shows probabilistic reversal signals.
The indicator is able to reaffirm the extreme levels of +0.5 and -0.5 as possible overbought and oversold regions respectively.
The Yefekt forex indicator has an upper limit of +1 and a corresponding lower limit of -1.
It has lime and red histograms that are boxed within a separate window with the former depicting bullish market sentiments while the later represents bearish market trends.
The indicator can tell us a lot about prevalent market trends as well as likely price reversals.
The EUR/USD H1 chart below displays the Yefekt Signals Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the lime histograms of the Yefekt Metatrader 4 forex indicator breaks above the zero signal level.
Sell Signal: Go short when the red histograms of the Yefekt Metatrader 4 forex indicator breaks below the zero center line.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the Yefekt forex indicator pops up a red histogram that is placed below the zero signal line.
Exit sell trade: Close all sell orders if while a bearish trend is running, the Yefekt forex indicator displays a lime colored histogram that is aligned above the zero center line.
Tips: The Yefekt forex indicator is an incredible technical indicator that delivers quick alert triggers, thereby ensuring that traders don’t miss out on trading opportunities.
It’s good for scalping and intraday trading purposes.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: colors & levels.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend | overbought/oversold
Copy and paste the yefekt.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)