Introduction to the Profit Indicator
The Profit indicator is a custom crossover forex indicator that was designed to give its users good profits from the currency market.
It consists of two elements: the main green/red signal line, and the yellow line.
Simplified trading rules with the Profit Indicator:
- Buy entry – main signal lines is green (above 0 level) and crosses above the yellow line
- Sell entry – main signal lines is red (below 0 level) and crosses below the yellow line
It fits all kinds of timeframes and currency pairs.
The indicator 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.
You can use it as a standalone trading tool or supply it to your favorite trading strategy.
How to set up the Profit indicator in MT4?
Copy and paste the Profit Indicator.ex4 or Profit 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 Profit indicator is well worth adding to your trading collection but 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.
Profit Indicator Free Download
To download the Profit Indicator for Metatrader 4 (MT4) for free just click the button below: