Introduction to the Zone Trade Indicator
The Zone Trade is a forex indicator that uses momentum, acceleration and price confirmation for the color of candles.
This approach of trading was first mentioned by Bill Williams and he calls it trading in the zone.
There are three types of trade zones:
- Buy Zone – a candle is green and you can go aggressive with long trading
- Sell Zone – a candle is red and you can go aggressive with short trading
- Neutral Zone – a candle is gray and you should hold trading until the time is right
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 Zone Trade indicator in MT4?
Copy and paste the ZoneTrade_v2.4.ex4 or ZoneTrade_v2.4.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 Zone Trade 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.
Zone Trade Indicator Free Download
To download the Zone Trade Indicator for Metatrader 4 (MT4) for free just click the button below: