The Elder Impulse Forex System Metatrader 4 indicator draws colored impulse histogram bars for any pair on the chart.
It’s composed of a 13-period EMA and the MACD technical indicator.
The Elder Impulse indicator was transformed into easy to read green/red/blue colored impulse histogram bars and works for scalping.
The indicator is displayed in a separate MT4 chart window.
It’s advised to combine this indicator with a longer-term trend following indicator for accurate trade entry and exit.
Just load the Elder Impulse Forex System indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- Combine with a longer-term trend following indicator.
- A nice indicator for scalping currency pairs.
- Take your profit quickly (8-15 pips target)
- 100% No repaint histogram impulse bars.
Feel free to explore the Elder Impulse Forex System indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “elder-impulse-system.ex4” Metatrader 4 indicator
Indicator Example Chart (EUR/USD M5 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 Elder Impulse Forex System MT4 Indicator
Buy Signal: Buy the Forex pair when the first green bar pops up on the chart and the overall trend is upward.
Set your stop loss below short-term support, or use your own favorite stop loss method.
Close the buy trade for 8-15 pips, or use your own favorite take profit method.
Sell Signal: Sell the Forex pair when the first red bar pops up on the chart and the overall trend is downward.
Set your stop loss above short-term resistance, or use your own favorite stop loss method.
Close the sell trade for 8-15 pips, or use your own favorite take profit method.
Download This Forex Indicator Now
Download the “elder-impulse-system.ex4” MT4 indicator
Input Parameters
Show bars, colors, width, style.
More Info About This Indicator
Usage: Works on any currency pair (preferred low spread pairs)
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: impulse
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.