MDZ Price Action Indicator for MT4 | Free Download
The MDZ Price Action Indicator
The MDZ Price Action indicator for MT4 is a visual indicator that is built upon the concepts of price action. The indicator can work in any time frame and in any market of your choice. The MD Price Action Indicator, however, creates a lot of visual details on your chart, which requires a bit of a getting used to. But at the same time, it gives a lot of information to the trader. The MDZ Price Action indicator also accurately draws the trend line.
When to go long using the MDZ Price action indicator
The first step is to choose the time frame that you want to trade (H4 is recommended).
After this, look at the Candlestick pattern visual information, which tells you what the trend is on the higher time frame (Daily, Weekly, Monthly).
You can trade this in multiple ways.
But the easiest is to trade based on the pivot levels.
When the trend is BUY on the higher time frames (at least two), then go long at one of the key levels.
When to Exit your Long Positions
You can set your take profit level to the next immediate upper key level that you see on the screen.
Note that sometimes this can change.
Therefore, it is good to take into account whether the take profit level gives you a good risk/reward ratio.
When to go Short using the MDZ Price Action indicator
To go short, ensure that the higher time frames have at least two SELL signals showing up.
Then, wait for the price to hit one of the key levels and go short.
In the above example, you also see a confluence of the trend line with the horizontal key level.
This is an even more effective signal.
When to exit short positions
The take profit level for the short position should be set to the lower-key level that you see on the chart.
But as always, make sure that you are having the right risk/reward level set up to ensure that your profits are higher than the losses.
Where to set the stop loss using the MDZ Price action indicator
The stop loss levels can be set on the recent pivot high for short positions or near the recent pivot lows for long positions.
It is important to note that your risk level will play a crucial role in understanding when the long or short position is worth trading or not.
Increasing Your Win/Loss Loss Ratio
When you add the MDZ price action indicator and use it together with a proven system like the Elite Swing Trader System or Simple Trend Trading System, you can only expect to achieve a better win ratio and better risk-reward ratio.
The MDZ price action indicator can look a bit complex, the first time you use it.
But with due practice, you can get familiar with this indicator.
There are many different ways to trade using the MDZ price action indicator and sometimes the information can be overwhelming.
Therefore, always start conservatively before trying out the different settings and discovering new ways of trading.
Recommended Time Frames
Technically speaking, you can use this MT4 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 H4 for better consistency.
How to Install Custom Indicators on MT4 on Windows
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Visit our Free MT4 Indicator Download page.
We hope you have enjoyed this post as much as we have created this strategy post for you.
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