The Kijun Sen Envelope Forex indicator for Metatrader 4 draws 3 trend-following bands based on the Kijun technical indicator.
The indicator appears in the main chart window as two outer bands and the middle band (trade entry band).
The trend is considered bullish when the envelope bands are pointing up while bearish when the envelope bands are pointing down.
The Kijun Sen Envelope works well for scalpers and day traders alike.
General Information
- Based on the Kijun indicator
- Works well for scalping and day trading
- Updates the bands at candle close
- Can be combined with other indicators
- Developed for Metatrader 4
Free Download
Download the kijun-sen-envelope.mq4 indicator file (MT4)
Indicator Chart Example
The picture below shows the Kijun Sen Envelope indicator attached to the EUR/USD daily trading chart.
How to use this Forex indicator?
This Forex indicator can be used in multiple ways, find an example below:
Buy Signal:
- Open a buy trade when the Kijun Sen Envelope bands are trending up and price touches the middle band from above (buy on dips).
- Place stop loss below the lower red band.
Sell Signal:
- Open a sell trade when the Kijun Sen Envelope bands are trending down and price touches the middle band from below (sell on rallies).
- Place stop loss above the upper blue band.
How to install the Kijun Sen Envelope Forex indicator to the Metatrader 4 platform?
- Download the kijun-sen-envelope.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
