The Daily Forex Signals Indicator for Metatrader 4 is an easy to use daily Forex signals indicator based on Fibonacci, Pivots and Gann levels.
At the start of the new trading day, the indicator performs all calculations and plots all levels on the charts.
It will show you the Pivot level, support 1, support 2, support 3, resistance 1, resistance 2 and resistance 3.
This is a no-repaint trading indicator that works on pure price action.
Attach the Daily Forex Signals indicator onto the Metatrader 4 chart and start trading with it in minutes.
- Daily trend bias is considered bullish above the Pivot level.
- Daily trend bias is considered bearish below the Pivot level.
- No repaint Forex price action indicator.
- Works for any currency pair.
Feel free to explore the Daily Forex Signals indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (GBP/USD M15 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 Daily Forex Signals MT4 Indicator
Buy Signal: Execute a buy trade when price crosses above the daily Pivot level from below. Trend bias is now bullish.
Set your stop loss slightly below the Pivot level or nearest consolidation, or use your own favorite stop loss method.
Close the buy trade at resistance level 1, 2 or 3, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed profit target of your preference (for example, exit the trade for 20 pips profit).
Sell Signal: Execute a sell trade when price crosses below the daily Pivot level from above. Trend bias is now bearish.
Set your stop loss slightly above the Pivot level or nearest consolidation, or use your own favorite stop loss method.
Close the sell trade at support level 1, 2 or 3, or use your own favorite take profit method.
Alternatively, close the sell trade for a fixed profit target of your preference (for example, exit the trade for 20 pips profit).
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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: signals
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.