The De Munyuk Forex indicator for Metatrader 4 delivers profitable trend following signals that are very easy to follow, even for beginners.
The indicator works best to spot short-term trends in the Forex market.
So, it best suits scalpers and day traders during the most volatile trading sessions.
When loaded onto the MT4 chart, the De Munyuk Forex indicator appears in a sub-window underneath the main trading chart.
In order to improve its accuracy, use together with a longer-term moving average and trade in the direction of the underlying trend. Avoid counter-trend trading.
This will increase winning trades by at least 30%!
- A green De Munyuk bar signals the start of a new short-term uptrending market.
- A red De Munyuk bar signals the start of a new short-term downtrending market.
- Works perfectly for scalping and day trading pairs.
Feel free to explore the De Munyuk Signal indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (CAD/JPY H1 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 De Munyuk Signal MT4 Indicator
Buy Signal: Go long when the De Munyuk Signal indicator prints a green bar on the chart.
Place your stop loss 1 pip below short-term support, or use your own favorite SL method.
Exit buy trade when the De Munyuk Signal draws a red bar on the chart, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed profit target or at a round number.
Sell Signal: Enter short when the De Munyuk Signal indicator prints a red bar on the chart.
Place your stop loss 1 pip above short-term resistance, or use your own favorite SL method.
Exit sell trade when the De Munyuk Signal draws a green bar on the chart, or use your own favorite take profit method.
Alternatively, close the sell trade for a fixed profit target or at a round number.
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Sound alert, bar with, 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
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.