Introduction to the Forex Telescope Indicator
The Forex Telescope Indicator provides trading signals in the form of a dashboard. It is displayed directly on the main trading chart, in its top-left corner. These signals are provided for major currency pairs. Timeframes taken into consideration are M5, H1, and H4. Once a potential trade is triggered, one is provided with corresponding arrows and take profit target.
How to set up the Forex Telescope indicator in MetaTrader (MT4)?
Download the Forex Telescope.rar archive at the bottom of this post, unpack it, then copy and paste the Forex Telescope.ex4 or Forex Telescope.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 Telescope 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 Telescope Indicator
To download the Forex Telescope Indicator for Metatrader 4 (MT4) for free just click the button below: