Alfa Profit V3 Indicator MT4 - Free Download - Best Forex Indicators

Introduction to the Alfa Profit V3 Indicator

The Alfa Profit V3 for MT4 is a simple buy/sell arrows forex indicator. You can use it in scalping as it gives pretty early entry points, however, we suggest adding some trend direction filter.

It fits all kinds of timeframes and currency pairs.

The indicator is displayed directly on the main trading chart.

Feel free to experiment with the gauge to fit your personal preferences.

Example charts

As you can see on the chart below, the Alfa Profit generated good and accurate signals.

Entry suggestions were on-point and price made good swings to get decent profits for a forex trader.

Great trading conditions are not always the case. Here you can see a choppy market with a lot of fakeouts and noise.

That scenario should be also taken into consideration when making technical analysis.

One of the ideas is adding a moving average to chart that would be working as a trend direction filter.

In the example chart below, we use 200-period Exponential Moving Average.

Settings

Well, when it comes to settings, the developers of that indicator didn’t provide a lot of customization features.

How to set up the Alfa Profit V3 indicator in MT4?

Installation Guide

Copy and paste the Alfa_Profit_v3.ex4 or Alfa_Profit_v3.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL4 > Indicators (paste here).

Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

Bottom Line

The Alfa Profit V3 indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success.

Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions.

Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.