The Forex Guru MT4 indicator is a buy and sell colored arrow indicator that uses a digital filter for better signal accuracy.
The indicator suits beginners as well as seasoned traders.
Deploy as a standalone Forex system or use together with your existing trading strategy.
The signals look quite good at first glance among various currency pairs and time frames.
I noticed that the indicator can produce large profits on almost any time frame (see the GBP/USD M5 chart below).
So, test it out for scalping, day trading and swing trading.
- A green arrow represents a buy signal.
- A red arrow represents a sell signal.
- The indicator uses a digital filter for better trade entry prediction.
- Utterly simple to use.
Read below how to open buy and sell trades with the Forex Guru MT4 indicator.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
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Forex Guru MT4 Indicator Chart
Here’s an example (GBP/USD M5 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Attach the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Signals With The Forex Guru Signals MT4 Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy trade order when a green arrow appears on the trading chart.
Place initial stop loss underneath the most recent swing low support level, or use your own favorite SL method.
Close the buy trade for a reward/risk ratio of 2.0 or higher, or use your own take profit strategy.
Alternatively, you can close the buy trade for a fixed TP, for instance, +60 pips on the M15 intraday chart.
Sell Trigger: Open a sell trade order when a red arrow appears on the trading chart.
Place initial stop loss the above most recent swing high support level, or use your own favorite SL method.
Close the sell trade for a reward/risk ratio of 2.0 or higher, or use your own take profit strategy.
Alternatively, you can close the sell trade for a fixed TP, for instance, +25 pips on the M1 trading chart.
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Sensitivity, alerts, color, width, style.
The indicator can be deployed as a standalone trading system or strategy.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, DeMarker,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI, Parabolic SAR,…)
- Price action methods and techniques
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.