Introduction to the Profitunity Bars Indicator
The Profitunity Bars indicator uses a custom formula to calculate trend momentum for each candlestick and colorizes these bars accordingly.
When the candlesticks are colored green, it means that the current short time period trend is bullish. Similarly, when the candlesticks are colored red, it means that the current short time period trend is bearish.
The Profitunity Bars indicator helps traders generate good profits from the forex market, but we still think to use in conjunction with some other technical analysis tools.
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.
How to set up the Profitunity Bars indicator in MT4?
Copy and paste the Profitunity bars.ex4 or Profitunity bars.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 Profitunity Bars 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.
Profitunity Bars Indicator Free Download
To download the Profitunity Bars Indicator for Metatrader 4 (MT4) for free just click the button below: