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HomeForex MT4 IndicatorsForex Olympus Indicator

Forex Olympus Indicator

Introduction to the Forex Olympus Indicator

The Forex Olympus Indicator is a trend-following forex indicator that, in essence, works in a very similar way to the Half Trend Buy/Sell Indicator. Nonetheless, it is a very interesting gauge that provides solid and accurate trading signals. It works the best during strong market swings.

The Forex Olympus Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How does it work? How to apply in trading?

Trading Rules Explanation

The Forex Olympus Indicator is equipped with three trading modes: Moderate (low risk and low return), Neutral (optimal risk to reward ratio), and Intense (highest risk and highest profit). The core of the indicator is a signal line that triggers the trades. It is blue when the trend momentum is bullish. Conversely, it is yellow when the trend momentum is bearish.

Buy Signal

Follow these steps for a long trade:

  • The Forex Olympus indicator switches from yellow to blue
  • Price swings higher from recent low swing
  • Buy trade is triggered after the above conditions are met
  • Set stop loss a few pips below the last swing low of the market
  • Take profit or exit trade whenever the Forex Olympus indicator provides opposite signal, or use your own method of trade exit

Forex Olympus Indicator Example of Buy Trade

Sell Signal

Follow these steps for a short trade:

  • The Forex Olympus indicator switches from blue to yellow
  • Price swings lower from recent high swing
  • Sell trade is triggered after the above conditions are met
  • Set stop loss a few pips above the last swing high of the market
  • Take profit or exit trade whenever the Forex Olympus indicator provides opposite signal, or use your own method of trade exit

Forex Olympus Indicator Example of Sell Trade

As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.

How to set up the Forex Olympus indicator in MT4?

Installation Guide

Download the Forex Olympus.rar archive at the bottom of this post, unpack it, then copy and paste the Forex Olympus.ex4 or Forex Olympus.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 Forex Olympus 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.

Download Free MT4 Forex Olympus Indicator

To download the Forex Olympus Indicator for Metatrader 4 (MT4) for free just click the button below:

Forex Olympus Indicator Free Download

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