Advanced Semafor ZZ Forex MT4 Indicator

The advanced Semafor ZZ Forex indicator for Metatrader 4 draws a lot of interesting no-lag price action data on the activity chart.

It draws all trend lines (short-medium-long), retracement lines, target lines, median line, Fibonacci lines and support/resistance levels.

It’s an excellent MT4 indicator if you like to trade with price action only.

However, it can be combined with technical indicators too without any problem.

It works for scalpers, day traders and swing traders.

For a more detailed explanation on the basic Semafor MT4 indicator, click here.

All technical lines come in the form of horizontal dotted lines, except for trend lines.

You can turn OFF/ON lines by editing the indicator’s inputs.

Download This MT4 Forex Indicator Free

Download the “3-level-zz-semafor-tro-modified.ex4” Metatrader 4 indicator

Advanced Semafor ZZ Indicator Chart

Here’s an example of how the Advanced Semafor ZZ 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 Advanced Semafor ZZ Technical Analysis Chart Indicator

This indicator can be used in many different ways.

Find below an example of how to buy and sell currency pairs with this Forex indicator:

Buy Trigger: Open buy trade when price closes above the upper Semafor ZZ trend line. Price broke out of it’s trading range to the upside. This is a strong buy signal.

Place stop loss below short-term support.

Take profit at 2:1 reward:risk or better, or use your own profit taking strategy.

Sell Trigger: Open sell trade when price closes below the lower Semafor ZZ trend line. Price broke out of it’s trading range to the downside. This is a strong sell signal.

Place stop loss above short-term resistance.

Take profit at 2:1 reward:risk or better, or use your own profit taking strategy.

Download This Forex Indicator Now

Download the “3-level-zz-semafor-tro-modified.ex4” MT4 indicator

Adjustable Parameters

Show legend, show trend lines, show retrace lines, show target lines, show median lines, show Fibonacci lines, colors, width, style.

Usage

The indicator can be used as a stand-alone price action indicator.

It can also be combined with:

  • Trading oscillators (MACD, Stochastic, RSI,…)
  • Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
  • Other 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: price action

Installation

Copy and paste the indicator in the MT4 indicators data folder.

Then restart the MT4 terminal and attach it to any chart.

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