Forex Strategy Indicator
Platform: MT4 Type: Trend Last update: October 20, 2024The Forex Strategy Indicator for MT4 displays a dotted line as a trend direction filter and buy/sell arrows for trade signals. Additionally, it provides a dashboard with information like whether a trade is buy or sell, entry price, stop loss level, and current spread.
It can be used for both trade entry and exit points, or as an additional confirmation filter for other forex trading strategies.
Closer look at the Forex Strategy Indicator
This is how it looks after activation in your MetaTrader 4 platform.
One can say that the Forex Strategy Indicator is a visualization of a complete trading strategy.
A trader is provided with all the necessary information like when to open and close a trade, trend direction, or market spread.
We must admit the indicator works best during strong market trends and large price swings. During sideways conditions, it’s pretty dangerous and gives poor results.
Settings
These are available settings.
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