Price Channel Signal Alerts Indicator (MT4) - Free Download - Best Forex Indicators

Introduction to the Price Channel Signal Alerts Indicator

The Price Channel Signal Alerts Indicator consists of two elements. The first element is big blue and red dots that define the direction of current movement. The second element is buy/sell arrows called “re-entry”. These arrows work as trade entry points. The best results with the Price Channel Signal Alerts Indicator are achieved during strong market movements.

The Price Channel Signal Alerts 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.

Example trade with the Price Channel Signal Alerts Indicator

Below is the screenshot of an example trade with the Price Channel Signal Alerts Indicator.

As you can see, the potential downward movement was signalized by a big red dot. Then one should wait for re-entry arrows, which in this case, actually occurred four times. The best entry point is at the first re-entry candle. Trade exit should happen at the arrival of big blue dot.

How to set up the Price Channel Signal Alerts indicator in MetaTrader (MT4)?

Installation Guide

Download the Price Channel Signal Alerts.rar archive at the bottom of this post, unpack it, then copy and paste the Price Channel Signal Alerts.ex4 or Price Channel Signal Alerts.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.

Summary Of That Forex Indicator

The Price Channel Signal Alerts 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.