UDP Forex Indicator for MT4

Introduction to the UDP Forex Indicator

The UDP Forex Indicator for MT4 (MetaTrader 4) is a trading gauge that provides signals in the form of two lines and trades are triggered at the crossover of these forex lines. It’s available to download completely for free.

The green line above the red line indicates a bullish trend-momentum. Conversely, a bearish trend-momentum takes place when the red line is above the green line.

It can be used as a standalone trading tool or better applied to a forex strategy.

The UDP gauge fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below 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 UDP Forex Indicator

Below is the screenshot of an example trade with the UDP Indicator.

UDP Forex Indicator Example Trade

In the beginning, bears were dominating the market and price was falling, and it was confirmed by the UDP indicator. Then, a bullish signal was placed and the price raised dramatically, which was confirmed and suggested by the UDP.

How to set up the UDP Forex indicator in MetaTrader (MT4)?

Installation Guide

Download the UDP.rar archive at the bottom of this post, unpack it, then copy and paste the UDP.ex4 or UDP.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.

Bottom Line

The UDP Forex 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 Forex MT4 UDP Indicator

To download the UDP Indicator for Metatrader 4 (MT4) for free just click the button below:

UDP Indicator Free Download

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