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FX Market Signals MT4 Indicator – Free MT4 Indicator 

 March 19, 2016

By  Advanced Strategies

The FX Market Signals MT4 Indicator is a complex indicator, but a very handy tool to have as it’s quite complex in the sense that it provides a full analysis of multiple time frames and which can be displayed in your preferred time frame without the need to navigate through all the time frames. It can be customized based on your preferences and based on your trading style using faster or slower settings depending on how many signals you want the indicator to generate.

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The FX Market Signals MT4 Indicator – Chart Setup

If you want to be a professional scalp trader you’ll have to use adequate tools to read the intraday price fluctuation and we believe that you will like the Free Forex Scalping MT4 Indicator that we have for you to download as it will keep you more often than not on the right side of the market.

FX Market Signals MT4 Indicator

FX Market Signals MT4 Indicator

More than just being a signal provider the FX Market Signals MT4 indicator also provides you at first hand with a lot of useful information that can make your life as a trader much easier. The indicator can also be positioned at every corner of the chart depending on the settings you’re more comfortable. This is the top information that the indicator will display:

  • Current price;
  • Current high and low of the day;
  • The current day range measured in pips;
  • The time until the current candle is completed;
  • The spread;
  • Shows the distance in pips from the current price to the highest price of the day;
  • Shows the distance in pips from the current price to the lowest price of the day;

As you can see the indicator has a good functional capacity, which uses a digital notation to make it easy to interpret all the available data. The FX Market Signals MT4 indicator it generates signals based on multiple other indicators like moving averages, RSI, CCI, TMA and the Stochastic indicator.

 


FX Market Signals MT4 Indicator – Settings

The first important column you’ll see the FX Market Signals MT4 indicator displaying is the “TR” column, which is showing you the direction of the trend starting from the 1-minute TF all the way up to the 4h TF. The trend direction is calculated based on the Triangular Moving Average (TMA) which basically is a double-smoothed Simple Moving Average. The second column is the “Str” which shows you the strength of the trend starting from the 1-minute TF all the way up to the 4h TF. The trend strength is measured using a combination of 3 momentum indicators: RSI, CCI, and the Stochastic indicator. The “BS” column is the actual Buy-Sell signal generator which is based on a slow MA and a fast MA. And last but not least we have the “TF” column, which displays the 1 Minutes, 5 Minutes, 15 Minutes, 30 Minutes, 1 hour and 4 hour time frames.

FX Market Signals MT4 Indicator Settings
FX Market Signals MT4 Indicator Settings

If we have a green arrow that’s a signal to buy and conversely, if we have a red arrow that’s a signal to sell. In order to be a smart trader, we’re going to make use of all the variables that the FX Market Signals MT4 Indicator provides us and we’re only going to trade when there is an alignment in multiple time frames and in the direction of the trends (as per the arrows showing).


FX Market Signals MT4 Indicator – Trading Rules

Since we’re going to scalp the market, we want to see an alignment in multiple TF like the 1M, 5M and 15M to present the same arrow and on top of that we want to be sure that the higher time frame is in the same direction because we want to make sure we also trade in the direction of the higher TF. Once this condition is met a trade can be taken depending on the directions of the arrow, with a protective stop loss of 10 pips above/below the most recent high/low and a profit target looking for the first support/resistance zone.

FX Market Signals MT4 Indicator - Buy Signal ExampleFX Market Signals MT4 Indicator – Buy Signal Example

In the above chart, we have a clear example of a Buy signal generated as we have an alignment in multiple TF and the direction of the trend, the strength of the trend and the BS signal are all pointing up.

Time Frames
Technically speaking, you can use this indicator for all time frames. However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly. We recommend that you use higher time frames like the 4H for better consistency.


FX Market Signals MT4 Indicator Download

We have provided this powerful trend trading indicator to you at no cost. We humbly request for your help to spread the word by sharing on one of the social platforms below. To unlock the download link, you just need to share this page to help us achieve our goal of helping more traders out there.

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Leave us a comment below to let us know your thoughts on this indicator. If you like this indicator, you might like see other indicators that we have carefully selected that will help you in your trading journey.

And if you can, you really should invest in a proven MT4 Expert Advisor to help you generate some profit on full autopilot.

We highly recommend this powerful MT4 Expert Advisor.

Visit our Free MT4 Indicator Download page.

We hope you have enjoyed this post as much as we have creating it. Good luck and thank you for your readership.


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