Introduction to the Hanafy5 MTF Indicator
The Hanafy5 MTF Indicator is based on the Relative Strength Index (RSI) and it displays buy/sell arrows on the chart. As the name suggests, it is an multi time frame indicator, so you can use a different than the current time frame for signals to display. That forex indicator generates a lot of signals, thus it shouldn’t be used alone, but rather as a supplement in a trading system or strategy for trade entry points and exit points.
The Hanafy5 MTF 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 to set up the Hanafy5 MTF indicator in MT4?
Download the Hanafy5 MTF.rar archive at the bottom of this post, unpack it, then copy and paste the Hanafy5 MTF.ex4 or Hanafy5 MTF.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 Hanafy5 MTF 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 Forex MT4 Hanafy5 MTF Indicator
To download the Hanafy5 MTF Indicator for Metatrader 4 (MT4) for free just click the button below: