Ultimate SSL MTF Indicator MT4 - Free Download - Best Forex Indicators

Introduction to the Ultimate SSL MTF Indicator

The Ultimate SSL MTF Indicator for MT4 works in a very similar manner to the Bollinger Bands indicator. It displays upper and lower bands and a middle line. That forex indicator is suitable for trend-following and reversal trading.

As the name suggests, an MTF (multi time frame) indicator, so you can choose a custom time frame of provided signals while being active in a different time frame chart.

The Ultimate SSL 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 does it work? How to apply in trading?

Trading Rules Explanation

The Ultimate SSL MTF Indicator consists of three elements: upper band, lower band, and middle line.

Generally speaking, when the price is located above the mid-line, the trend is considered bullish. Similarly, when the price is located below the mid-line, the trend is considered bearish.

Detailed instructions are provided below.

Buy Signal

Follow these steps for a long trade:

Price is located above the mid-line of the Ultimate SSL
Price rejects mid-line or lower band
Price swings higher from recent low swing
Buy trade is triggered after the above conditions are met
Set stop loss a few pips below the last swing low of the market
Take profit or exit whenever the price crosses mid-line of the Ultimate SSL or use your own method of trade exit

Sell Signal

Follow these steps for a short trade:

Price is located below the mid-line of the Ultimate SSL
Price rejects mid-line or upper band
Price swings lower from recent high swing
Sell trade is triggered after the above conditions are met
Set stop loss a few pips above the last swing high of the market
Take profit or exit whenever the price crosses mid-line of the Ultimate SSL or use your own method of trade exit

As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology.

It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.

How to set up the Ultimate SSL MTF indicator in MT4?

Installation Guide

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

Bottom Line

The Ultimate SSL 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. Don’t forget that we still have more great free forex MT4 indicators to download and try.