The Kalman Filter indicator for Metatrader 4 is a beginner friendly buy/sell signals trend indicator that works well in trending environments.
It appears in the main chart as a dual-colored signal line.
The buy and sell rules are very easy to follow and they can be applied to any currency pair and time frame of your preference.
Buy & sell signal:
- The start of the light-blue colored line is a buy signal.
- The start of the orange colored line is a sell signal.
- Exit the open buy/sell trade for a fixed profit target or wait for any opposite trading signal.
From our testings, the indicator does not repaint and works for any currency pair and time frame without slowing down the trading platform.
It can be used as a standalone technical tool or it can be combined with other technical indicators and trading strategies.
Try first on a demo account until you fully understand how this indicator works!
Indicator Chart Example
The picture above shows the indicator attached to the Euro / U.S. Dollar technical chart.
How to install the Kalman Forex Filter indicator to your Metatrader 4 platform?
- Download the kalman-filter-indicator.mq4 indicator file here and save it to your computer
- Open your Metatrader 4 platform
- Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
- Click on “MQL4” and open the “Indicators” folder
- Paste the indicator file in this folder
- Restart Metatrader 4 and you’re ready to start using the indicator
How to edit the indicator?
- Attach the indicator to any trading chart of your preference
- Right click in the chart and select “Indicators List” from the drop down menu
- Select the indicator from the list and click on “Edit”
- Now you can start editing the indicator (Inputs, Colors and Visualization)
- Final step, click on the “OK” button to save the new configuration