The Entropy Buy/Sell Forex Oscillator MT4 indicator is an awesome signal indicator that works on a simple Moving Average.
The indicator seeks for trend direction above and below its neutral 0.00 levels.
It appears in a separate trading window underneath the main MT4 chart in the form of green colored trend bars.
It’s an excellent indicator for scalping and day trading pairs.
For swing traders, it can help you to re-enter trades in the direction of the overall trend with good accuracy.
Just load the Entropy Buy/Sell Forex Oscillator indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- Trend bias is bullish when the green trend bars appear above the 0.00 neutral level.
- Trend bias is bearish when the green trend bars appear below the 0.00 neutral level.
- Good for scalping and day trading on a daily basis.
- Good for trade entry in the overall trend direction for swing trading.
Feel free to explore the Entropy Buy/Sell Forex Oscillator indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “entropy-math.ex4” Metatrader 4 indicator
Indicator Example Chart (USD/CAD 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 Entropy Buy/Sell Forex Oscillator MT4 Indicator
Buy Signal: Open a buy trade whenever the first green bar appears above the 0.00 level. The trend has reversed from bearish to bullish.
Set your stop loss below the previous swing low price level, or use your own favorite stop loss method.
Exit the buy position when an opposite signal appears on the chart, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed profit target of your preference (for example, close for +20 pips on the M5 chart).
Sell Signal: Open a sell trade whenever the first green bar appears below the 0.00 level. The trend has reversed from bullish to bearish.
Set your stop loss above the previous swing high price level, or use your own favorite stop loss method.
Exit the sell position when an opposite signal appears on the chart, or use your own favorite take profit method.
Alternatively, close the sell trade for a fixed profit target of your preference (for example, close for +40 pips on the M15 chart).
Download This Forex Indicator Now
Download the “entropy-math.ex4” MT4 indicator
Adjustable Parameters
Numbers, signal SMA, 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: oscillator
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
