The Day Impulse Metatrader 4 indicator is a combination of a trend-confirming and profit taking tool.
The indicator signals a buy/sell when its red signal line breaks above/below the zero-horizontal level.
Profits can be taken when the red signal line of the Day Impulse indicator interacts (touches) with the goldenrod colored level (on the upside/downside) on the indicator window.
Some traders will take profit when the red line breaks above/below the zero-horizontal level for sell/buy positions.
- In a bid to better understand this indicator, more attention should be paid to the red line and its interaction with the blue signal line and those of the goldenrod.
- Generally speaking, there are sessions in the market where the lines of the Day Impulse indicator somewhat squeezes/widens, and is an indication of a probable volatility surge/fading respectively.
- Short- and long-term traders can deploy the Day Impulse indicator for scalping and swing trading conveniently.
Feel free to explore the Day Impulse Profit Taking Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Day Impulse Profit Taking Forex Indicator Chart (EUR/ZAR 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 Day Impulse Profit Taking MT4 Indicator
Buy Signal: Go long when the red line of the Day Impulse MT4 indicator crosses above the blue zero signal line.
When the blue line of the Alligator indicator crosses below the lime and red lines in a bottom up fashion, it is a buy signal confirmation.
Sell Signal: Go short when the red line of the Day Impulse MT4 indicator crosses below the blue zero horizontal signal line.
When the blue line of the Alligator indicator crosses above the lime and red lines in a top downward manner, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the red line of the Day Impulse indicator dips below the zero-center level. Else, the lime line of the Alligator indicator intersects the red line.
Exit sell trade: Close all sell orders if while a bearish trend is running, the red line of the Day Impulse indicator surges above the zero-center level. Else, the lime line of the Alligator indicator intersects the red line.
Tips: Users can use the Day Impulse MT4 indicator entirely as a standalone buy/sell indicator, or in combination with other technical indicators to amplify its overall performance.
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Period, d, t3 period, b, display mode.
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
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.