The 10-minute trader Forex indicator for MT4 delivers great short-term buy and sell signals on the chart.
It also plots a sort of support and resistance channel on the chart that can be used for trailing stop losses.
- A buy signal occurs when the indicator draws a pink arrow on the MT4 chart.
- A sell signal occurs when the indicator draws a red arrow on the MT4 chart.
The support and resistance colored dotted lines indicate the best place for stop loss placement.
Generally speaking, the 10 minute trader is doing well for scalping and short-term day trading purposes.
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10-Minute Trader Indicator Chart
Here’s an example of how the 10-minute trader indicator should look like when loaded onto the Metatrader 4 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With 10-Minute Trader Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy trade when the 10-minute trader indicator draws a pink arrow on the Metatrader 4 chart.
A stop loss must be placed below the red dotted support line, or use your own stop loss strategy.
Exit the 10-minute trader buy trade when an opposite sell signal appears on the trading chart, or you exit the buy trade at a fixed profit target of 1:1 reward:risk or better.
Sell Trigger: Open a sell trade when the 10-minute trader indicator draws a red arrow on the Metatrader 4 chart.
A stop loss must be placed above the white dotted resistance line, or use your own stop loss strategy.
Exit the 10-minute trader sell trade when an opposite buy signal appears on the trading chart, or you exit the sell trade at a fixed profit target of 1:1 reward:risk or better.
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Colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, RSI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend following
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.