Forex MTN is a very simple indicator that is useful for both trading styles: scalping and intraday. Indicator Forex MTN is very universal and can be traded on any currency pair and any timeframe. You must take into consideration that such a basic tool is better to use as a supplement or addition to the main trading system.
Features of the Forex MTN Indicator
Currency pairs: all of them
Trading Time: whole day
I think Forex MTN Indicator is intuitive enough and does not require further explanation, however I will give you rules when and how to open the trades.
- Open Buy on the next candle after the blue circle. Exit when there appeared a red circle.
- Open Sell on the next candle after the red circle. Exit when there appeared a blue circle.
In the archives you will find following files:
How to set up the No Repaint indicator in MT4?
Download the Forex MTN.rar archive at the bottom of this post, unpack it, then copy and paste the Forex MTN.ex4 or Forex MTN.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.
The Forex MTN 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.
Download Free MT4 Forex MTN Indicator
To download the Forex MTN Indicator for Metatrader 4 (MT4) for free just click the button below: