Elder Impulse Forex System Metatrader 4 Indicator
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.
- 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.
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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.
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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
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.