The Envelopes Toucher Forex Trend Metatrader 4 indicator is a dual colored Envelopes bands indicator that delivers trend bias for scalping pairs.
For the ease of use, based on the position of the candlesticks (above/below the bands), they are either colored purple (bullish trend) or light cyan (bearish trend).
It’s a great indicator for scalping the Envelopes bands multiple times a day. You can easily take 10-25 pips per trade.
Just load the Envelopes Toucher Forex Trend Metatrader 4 indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- Trend bias is considered bullish above the yellow upper band. The candlesticks are colored purple.
- Trend bias is considered bearish below the blue lower band. The candlesticks are colored light cyan.
- Works great for scalping on any time frame.
- Does not repaint.
- Easy to trade, even for absolute beginners.
Feel free to explore the Envelopes Toucher Forex Trend Metatrader 4 indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “envelopes-toucher-indicator.ex4” Metatrader 4 indicator
Indicator Example Chart (EUR/USD H4 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 Envelopes Toucher Forex Trend MT4 Indicator
Buy Signal: Open a buy trade whenever the candlestick closes above the yellow upper band. The candlestick is colored purple.
Set your stop loss below the previous swing low or consolidation area, or use your own favorite stop loss method.
Exit the buy position for 10-25 pips profit, or use your own favorite take profit method.
Sell Signal: Open a sell trade whenever the candlestick closes below the blue lower band. The candlestick is colored light cyan.
Set your stop loss above the previous swing high or consolidation area, or use your own favorite stop loss method.
Exit the sell position for 10-25 pips profit, or use your own favorite take profit method.
Download This Forex Indicator Now
Download the “envelopes-toucher-indicator.ex4” MT4 indicator
Adjustable Parameters
MA period, deviation, MA mode, signal bar, alerts, alerts mobile, 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: scalping
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
