The Zone Trade 2.4 Forex indicator for Metatrader 4 is a candlestick based scalping tool that solid delivers buy & sell signals.
The indicator generates green, red and gray colored candlesticks on the main chart window.
The green colored candlesticks indicate bullish market sentiment while red candlesticks indicate bearish market sentiment.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
- Buy & sell Forex scalper
- Works for any currency pair
- Works on all time frames
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a short-term trend confirmation tool.
Indicator Example Chart
The GBP/USD 5-minute chart below shows the Zone Trade Forex scalper indicator in action.
Basic Trading Signals
- A buy signal is given when the first green candlestick gets printed on the chart.
- Set stop loss below short-term support.
- Exit the buy trade for a predetermined profit target or use a risk to reward ration of 1.5 or better.
- A sell signal is given when the first red candlestick gets printed on the chart.
- Set stop loss above short-term resistance.
- Exit the short trade for a predetermined profit target or use a risk to reward ration of 1.5 or better.
Download This Forex Indicator
Adjustable Parameters & Settings
Body width, shadow width, colors, style
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: candlestick
How to install the Zone Trade Forex indicator in Metatrader 4?
- Copy and paste the ZoneTrade_2.4.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