Introduction to the Forex Strategy Indicator
The Forex Strategy Indicator for MT4 displays a dotted line as a trend direction filter and buy/sell arrows for trade signals. Free download.
Additionally, it provides a dashboard with information like whether a trade is buy or sell, entry price, stop loss level, and current spread.
That indicator can be used for both trade entry and exit points, or as an additional confirmation filter for other forex trading strategies.
It fit all kinds of currency pairs and timeframes.
Closer look at the Forex Strategy Indicator
The free download link of the Forex Strategy indicator for MT4 is placed at the bottom of this post. Once you’re done, your trading chart should look similar to the example below.
One can say that the Forex Strategy Indicator is a visualization of a complete forex 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.
These are available settings.
How to set up the Forex Strategy indicator in MetaTrader (MT4)
Download the forex-strategy-indicator.rar archive at the bottom of this post, unpack it, then copy and paste the forex-strategy-indicator.ex4 or forex-strategy-indicator.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 Strategy 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 Strategy Indicator
To download the Forex Strategy Indicator for Metatrader 4 (MT4) for free just click the button below: