The Averages Of Momentum Forex Profit Signal MT4 indicator is a true winning Forex indicator.
It’s built up of Stochastic, Moving Averages and Momentum indicators.
Together, they form a very powerful trading indicator that’s very easy to follow and profitable.
It will signal new trades before the trend starts to take off in one or another direction.
For scalping purposes, the most profitable trades occur during the London and New York trading sessions.
Just load the Averages Of Momentum Forex Profit Signal indicator onto the Metatrader 4 chart and start trading with it in minutes.
- Good Forex profit trading indicator.
- Detects new trends in their early stages.
- Simple to follow signals, even for newbies.
- Works for scalpers, day traders and swing traders alike.
Feel free to explore the Averages Of Momentum Forex Profit Signal indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (USD/JPY H4 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Averages Of Momentum Forex Profit Signal MT4 Indicator
Buy Signal: Execute a buy trade when the green signal line turns back above the orange dotted line and the indicator is in oversold territory (near the 0 level).
Set your stop loss 1-3 pips below support or nearest consolidation, or use your own favorite stop loss method.
Close the buy trade for a reward/risk ratio of 1.5 or better, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed profit target, for example, 25 pips on the 5-minute chart.
Sell Signal: Execute a sell trade when the orange signal line turns back below the orange dotted line and the indicator is in overbought territory (near the 100 level).
Set your stop loss 1-3 pips above resistance or nearest consolidation, or use your own favorite stop loss method.
Close the sell trade for a reward/risk ratio of 1.5 or better, or use your own favorite take profit method.
Alternatively, close the sell trade for a fixed profit target, for example, 15 pips on the 1-minute chart.
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Time frame, Stochastic length, smooth MA, signal MA, Momentum period, show arrows, colors, width, style.
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 oscillator
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.