This is a real Renko candlestick indicator that can be used on live forex charts. The indicator draws 2 colored Renko candlesticks: gray and red. Gray candlesticks suggest an uptrend, red candlestick suggest an downtrend. You can combine this indicator with other analysis tools/indicators to build a complete trading strategy or forex system. Trading Signals Buy signal: Look for buy signals at any gray Renko candlestick (up trend) Sell signal: Look for sell signals at any red Renko candlestick (down trend) Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any Configurable Indicator Options Colors, method, filter,… GBP/USD M1 Chart Example
The scalping cycle forex indicator is an indicator based on an exponential moving average and the stochastic oscillator. It oscillates between 0 and 100. This indicator is very usefully to benefit from small market moves in an up trend or downtrend. Therefore, determine the overall trend first and then use this indicator in the direction of the overall trend. Trend up? Look to go long at or below the 10 level. Trend down? Look to go short at or above the 90 level. Trading Signals Buy signal: In an up trending market, go long at the first gray arrow at or below the 10 level. Sell signal: In an down trending market, go short at the first red arrow at or above the 90 level. Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any Configurable Indicator Options EMA period, Stochastic period, alert on/off… EUR/USD M1 Chart Example
The ultimate buy sell secret forex indicator, developped by Karl Dittmann is a trading system that can be loaded onto every forex chart and time frame. This indicator system delivers entry signals, recommended stop-losses and take profit objectives. According to Karl, the hit rate of this indicator is up to 85% profitable trades! Chart Setup Used indicators: buysell5secret.ex4Preferred time frame(s): M1 and higherTrading sessions: London and US session for M1 up to M30. Around the clock trading for time frame’s above M30.Currency pairs: any Example: GBPJPY M5 Chart The figure above is an example of the ultimate buy sell secret forex indicator in action on the 5 minute GBP/JPY chart. The screenshot shows you how easy it is to make this indicator work for you. A blue arrow = buy, a red arrow = sell. 4 Winning trades for 225 pips profit. Trading Rules Buy conditions: * Buysell5secret draws a blue arrow + pop up alert to go long = buy signal ==> Open buy trade. The Buysell5secret indicator calculates the stop-loss and displays it on the left upper corner of the MT4 chart . Alternatively, keep you stop-loss tight and place it just below the most recent support price level. Trade exit (TP): (1) Set your own profit target, for example 70 pips, do not wait for an opposite trading signal issued by the Buysell5secret indicator. (2) Wait for an opposite trading signal (sell signal) to close the long trade. Sell conditions: * Buysell5secret draws a red arrow + pop up alert to go short = sell signal ==> Open short trade. The Buysell5secret indicator calculates the stop-loss and displays it on the left upper corner of the MT4 chart . Alternatively, keep you stop-loss tight and place it just above the most recent resistance price level. Trade exit (TP): (1) Set your own profit target, for example 35 pips, do not wait for an opposite trading signal issued by the Buysell5secret indicator. (2) Wait for an opposite trading signal (buy) to close the short trade.
This is the best and most advanced forex Fibonacci trading indicator I have ever seen. This indicator draws all Fibonacci retracements (0.0, 0.382, 0.5, 0.618, 1.0) + custom levels, Arc and Fan, expansion levels and time zones. Trading Signals Buy signal: In an up trending market, look to go long near the 0.382 retracement level (buy on dips). Use the Fibonacci expansion levels to determine possible profit targets for your long trade or use your own profit objective method. Sell signal: In an down trending market, look to go short near the 0.382 retracement level (sell on rallies). Use the Fibonacci expansion levels to determine possible profit targets for your short trade or use your own profit objective method. Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any Configurable Indicator Options Fibonacci Arc levels, Fibonacci retracement levels, Fibonacci expansion levels, Zig zag settings, Fibonacci Fan levels, colors,… EUR/USD M5 Chart Example
An easy to use forex trading indicator based on RSI + filter. The indicator shows up in a sub window below the main MT4 trading chart. Feel free to experiment with the RSI period values. I prefer to use values above 25. This reduces the amount of false signals. You can use the RSIFilter with an overbought/oversold oscillator (for example the Stochastic oscillator) for more accurate entry and exit signals. Trading Signals Buy signal: Wait for the RSI filter to turn orange from blue color. Sell signal: Wait for the RSI filter to turn blue from orange color. Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any Configurable Indicator Options Colors, RSI period,… EUR/USD H1 Chart Example
Here’s a simple to use free forex scalping trading indicator. The indicator consists of a zero line, above the zero line, the short-term trend is bullish, on the contrary, below the zero line bearish. I recommend to use this indicator during the most volatile trading sessions and on low spread currency pairs such as the EUR/USD and USD/JPY. Trading Signals Buy signal: Wait for indicator to turn back above the zero line from below (green color). Sell signal: Wait for indicator to turn back below the zero line from above (red color). Indicator Preferences Currency pairs: low spread pairs Time frames: M1, M5, M15 Trading sessions: London and US (avoid using the indicator on holidays) Configurable Indicator Options Colors, … EUR/USD M15 Chart Example
Download an advanced moving average crossover signal system indicator for Metatrader 4. The MA histogram changes color when a short-term moving average crosses a long-term moving average from above or below. This system is often used by trend following forex traders. Feel free to experiment with the moving average periods and method (simple, exponential, smoothed and linear weighted). Trading Signals Buy signal: Wait for the MA histogram to change color from pink to blue (bullish). Sell signal: Wait for the MA histogram to change color from blue to pink (bearish). Indicator Preferences Currency pairs: any (majors, cross pairs, exotics) Time frames: any Trading sessions: any Configurable Indicator Options Colors, MA period, MA method, signal, maximum bars,… Example: EUR/JPY H1 Chart
This free forex price action indicator provides trading signals based on the % high price and % low price for the last 100 bars. It can be used on all timeframe’s for any currency pair. Trading Signals Buy signal: The trendline must be blue colored. Then wait for an up arrow to appear on the chart. This is your price action based buy entry signal (see USD/JPY image below for better understanding). Sell signal: The trendline must be red colored. Then wait for an down arrow to appear on the chart. This is your price action based sell entry signal. Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any Configurable Indicator Options Colors, sound alerts, email alerts,… Example: USD/JPY H4 Chart
An advanced CCI forex trading oscillator for Metatrader 4 that consists of an histogram and oscillator. The CCI period and TCCI period can be modified directly from the input menu. Trading Signals Buy signal: The histogram of the indicator should be green colored, above the 0.00 line. The oscillator (yellow line) should also be oscillating above the zero line. This is a bullish signal. Sell signal: The histogram of the indicator should be red colored, below the 0.00 line. The oscillator (yellow line) should also be oscillating below the zero line. This is a bearish signal. No signal: Blue colored histogram. Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any Configurable Indicator Options Colors, CCI period, TCCI period,… Example: USD/JPY H4 Chart
The Heikin-Ashi candlestick indicator displayed as green and red bars in a sub-window below the main MT4 trading chart. A green bar is considered to be a bullish Heikin-Ashi candlestick. A red bar is considered to be a bearish Heikin-Ashi candlestick. The indicator can be used on all pairs and timeframe’s. Trading Signals Green bar: bullish Red bar: bearish Tip: Combine the Heikin-Ashi bar indicator with other analysis tools and indicators to built a complete forex trading system. Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any Configurable Indicator Options Colors, Sound alert mode,… Example: EUR/USD 4-Hour Chart
As the name of the indicator suggests, this advanced moving average indicator reduces lag, it reacts faster to price movements in the forex market. The image below displays the reduced lag MA vs. traditional MA using the same input settings. Use this MA indicator just like the traditional moving averages indicator to trade with the current trend. The indicator can be applied to open, close, high, low,typical and weighted prices. Trading Signals Uptrend: price above the red MA line Downtrend: price below the red MA line. Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any Configurable Indicator Options Colors, MA period, MA method (SMA, EMA, SMMA, LMWA),…
Invented by Edward Coppock, the Coppock indicator for Metatrader 4 provides traders with easy to read buy and sell trade opportunities. The indicator is based on rate of change (ROC) and the moving average indicator. The figure below shows an example of the indicator on the 4-hour EUR/USD chart. Buy above 0.00 level, sell below 0.00. Trading Signals Buy: Coppock indicator histogram bars above the 0.00 level. Sell: Coppock indicator histogram bars below the 0.00 level. Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any Configurable Indicator Options Colors, ROC1 period, ROC2 period, MA period, MA type (SMA, EMA, SMMA, LWMA),…
This trading indicator draws 3 timeframe’s (TF1, TF2, TF3) of your choice below the main chart. It’s easy to keep up with long and short trends without the need to switch the main timeframe. You can choose timeframe’s from 1 minute up to the monthly (M1, M5, M15, M30, H1, H4, D1, W1, MN). Trading Signals Buy: No buy signals from this indicator. Sell: No sell signals from this indicator. Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any Configurable Indicator Options Colors, TF1, TF2, TF3, Bars per timeframe… Example: EUR/USD 1-Hour Chart
The Aroon Oscillator v1 indicator for MetaTrader4 is an indicator that was developed by Tushar Chande and has the ability to spot the formation of new trend as well as also define such trend’s momentum. The Aroon_Oscilator_v1 is computed by working the difference between the Aroon-Up and Aroon-Down. The Aroon_Oscilator_v1 indicator fluctuates between -99 and +99 and has 0.00 as its middle line. When the Aroon_Oscilator_v1 indicator is positive, it presents a trend bias to the upside. When the Aroon_Oscilator_v1 indicator is negative, it presents a trend bias to the downside. When the Aroon-Up is greater than the Aroon-Down, the indicator gives a reading above zero, an indication that price is experiencing new highs more lately than fresh lows. On the other hand, when the Aroon-Down is greater than Aroon-Up, the indicator reading is below zero, an indication that price is experiencing new lows more lately than fresh highs. We can explain the strength of a trend by considering the indicator’s positive or negative threshold i.e. when the Aroon_Oscilator_v1 indicator breaks above the +50 level, it suggest a strong bullish move, while a break below the -50 mark indicates a strong bearish move. The Aroon_Oscilator_v1 indicator is essentially used in defining the overall trend bias. The indicator will stay in the positive zone when the market is experiencing a strong bullish move and will also remain in the negative zone when the market is in a strong bearish push. Subject on the parameter values on the Aroon_Oscilator_v1 indicator, range bound or short trends can result in the indicator frequently move above or below the zero signal line. MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (AroonPeriod, Filter, CountBars), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: momentum oscillator
The Accumulation Swing index forex indicator (ASI) for MetaTrader 4 is a technical study that was developed by Welles Wilder. The indicator finds its use in the trading of divergences and also as a confirmation tool. The long term trend of a financial asset can also be measured using the ASI. The ASI is essentially the accumulative total of values of swing indexes of each bar. The swing index is quite popular in the futures market, but also finds use in forex trading. The accumulative swing index offers an enhanced long-term outlook than deploying the basic swing index, which deploys data from just two bars. The accumulative swing index is positive when the long-term trend is upward. However, when the accumulative swing index is negative, the long-term trend is downwards. A sideways or non-trending long-term trend is depicted when the accumulative swing index fluctuates between negative and positive values. Besides using this indicator as a tool for confirming divergences, the ASI is also being deployed in the confirmation of break outs. This can be achieved by drawing trend lines on the ASI indicator along with corresponding trend lines on the activity chart. A breakout in prices from the trend line is confirmed when the ASI trend line breaks out. The values of look back period can be customized to reflect the trader’s preference. The line of the ASI indicator reflects real market price and as such we can draw support/resistance levels on it, with corresponding levels on the price chart to simply visualize price breakouts. MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (T), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: oscillator, divergences, support/resistance
“Discovered while day trading in 1989 by Nick Stott, a successful bond trader in the financial markets, the SureFireThing ‘Camarilla’ equation uses a truism of nature to define market action – namely that most time series have a tendency to revert to the mean. In other words, when markets have a wide spread between the high and low the day before, they tend to reverse and retreat back towards the previous day’s close. The SureFireThing Camarilla Equation uses some complicated mathematics to pluck 8 levels out of thin air, using nothing more than yesterday’s open, high, low and close. These levels are, frankly, astounding in their accuracy as regards day trading, even to seasoned traders, who know all about support and resistance, pivot points and so on.” Below are a collection of Camarilla indicators for metatrader. You will have to go through them and see which one you like. They are only the first part of the indicator so you will need to compile them once you have saved them to your experts>indicators folder.
I have just added the indicator Ultra Trend to the MT4 indicator list. There are various uses of this is indcator and in the near future I will be doing a section on this indicator. It is, as with most Mt4 indicators, most commonly used on forex trading systems but I have been watching it on the FTSE 100 futures so can’t really comment on its use in forex trading but definitely think it has its merits.
Here is a great little free indicator for Metatrader. In short is a Parabolic Sar indicator which calculates the Sar on a macd. All you have to do is upload the file to your MT4 indicator folder, compile it and then add it. The best way to add it is to open up you navigator window on the left, select custom indicators and drag and drop it into a macd indicator window. Obviously, you should select the same settings for the macd in the sar indicator as you have for the main macd indicator. And that is it. I have added a chart below so you can see what it looks like. Enjoy…let me know what you think of it.
I personally like the Fisher indicator on metatrader. The Fisher Yur4ik indicator is a simple version of the the Fisher Transform indicator which was devised John Ehlers. Ehlers indicators have become more popular in the last few years and I certainly feel they deserve as much attention as any other indicator out there. I think that the Fisher indicator is best used when it is used as the main trend indicator of a trading system. This means that you will first look at Fisher and if it is above the zero line you will be looking fro buy signals and if it is below the zero line you will be looking for sell signals. Here is a very simple 1 min Ftse chart of a basic Fisher concept with a moving average crossover used to generate the entry signals. The Fisher indicator is set to 55 and the moving average crossover signals are two simple Ma’s set to 13 and 25 respectively. In short we are looking to only take short signals from the crossover when the Fisher indicator is red and longs when it is green. I have added a vertical line or two to show you roughly where the changes in trends occur. You can clearly see taking only the sell arrows when the Fisher transform is red and only taking green when the Fisher is green works out pretty well. You will get a few false starts but because the the ma’s are quite short the market doesn’t move too far before giving you an opposite signal. It is a very basic concept but one I think some could take and add their own twist to it. Personally, I would say that the way to make this idea a profitable systems is to do some manual back testing and devising a sound stop and profit taking strategy or maybe you would want to try a parabolic sar to trail your stop on the runners. After all that is where the profit is to be made in my opinion on a system like this.
Dax 25 is a very straight forward mechanical trading system that allows the trader to place a order to buy or sell with both stops and limits in place and leave the position in place until end of day. It is called Dax 25 because is uses both a 25 point stop and a 25 point limit. This gives the system a 1:1 Risk to Reward ratio, which along with the positive strike rate is how the system is profitable. Below outlines the simple steps of knowing which orders to place and in which direction:- Trading Dax 25 Step 1Identify the open price of the Dax index. This is shown on my charts below as white line. This is probably most key part of the system as you need to make sure you have the correct price level. If you are trading using spreadbetting do not use the price quoted by your SB at the open as this will not only be based on futures prices but most likely will not show the first tick of day on the index which is what we need to determine the actual open price level. Best to use a Dax chart from a metatrader supported data feed. Step 2 Once you have the open price level. Calculate two new price levels, one at Open Level +25 points and the other Open Level -25points. Thus in essence you have two bands 25 points away from the the open price level. Now you have all 3 price levels you need to trade. Step 3 Assuming the market is open and you have your price level bands, you now wait for one of the bands to be hit. This usually happens within the first hour of the session so be ready for it. Once a band has been hit we move to place our orders. If the lower band has been hit we place a buy order at the Open price level and place our limit to close for +25 at the top band and place our stop at the the lower band. If the upper band has been hit we place a sell order at the Open price level and place out limit to close for +25 at the bottom band and place our stop at the upper band. So the we wait for the price to return to the open level to open a position. Once in a position do nothing. Leave the orders to play out. There will be quite a few days where your orders don’t get triggered to open a trade, just make sure you cancel them at the end of day or if you have option with your brokers/ SB provider, make sure they are only good for the day and get cancelled automatically. Also you need to check back at the end of day to make sure that you are not in a position that has not been stopped or limited out. There are only a few days in the sample period where this happened but best to check. Again your initial buy/sell order maybe able to be placed with a close at the end of day instruction but that willdepend on your provider. _______________________________________So that is it. A very straight forward trading method which is easy to trade and which does not require any decision making on when to open/close a position. Below, you can see two actual trades and the trades that were triggered and how they were closed out. Chart 1 shows a trade that was triggered to buy the open price level with the trade being closed out for 25+ points profit. Chart 2 shows a trade that was triggered to sell the open price level but which was stopped out for -25. Chart 1 Chart 2 There are two things I would like to highlight. Firstly is, that as it is a mechanical system any changes you may make to it, like deciding to close a trade early, will effect the outcome of the system as a whole. By all means take the idea and play with it and change it if you wish but the results suggested are based on a trading it as it is above. Personally, I am currently looking at increasing the limit target to 30pts and also taking a second trade if stopped out. Although I do not have the stats on this at the moment, it might be something you might want to look into. Secondly, is the old adage of only trade with what you can afford to lose. Despite what some people would like you to believe trading by nature is a game where you are exchanging money for risk. If you do not want to take on the risk do not trade. I have traded in one form or another for the last 6 years and my eyes are wide open to the risks involved. Make sure you are. This system whilst profitable at the moment may not be in the future. There are no guarantees in this game. The reason why I like to trade these mechanical type systems is that they are relatively consistent over a basket of trades but you have to be able to ride out the bad times as well as the goodone. So trading full margined on each trade for example will not result in a happy ending. I hope I have shown you a simple way to trade and wish you all the best in your trading.