The Kuskus Starlight Forex indicator for Metatrader 4 is somewhat a famous technical indicator that delivers buy/sell signals for any pair.
The indicator appears in a separate chart window as blue and red stars that appear above and below the neutral zero level.
In essence, stars that appear above the zero level are bullish while stars below bearish.
You can easily combine this indicator with additional technical indicators or with price action strategies.
- Works for any time frame
- Provides trend direction
- Works for any trading instrument
- Does not repaint signals
- Developed for Metatrader 4
Indicator Chart Example
The picture below shows the Kuskus Starlight indicator attached to the Euro / U.S. Dollar H1 chart.
How to use this Forex indicator?
This Forex indicator can be used in multiple ways, find an example below:
- A new buy signal is given when the stars turn back to blue color from red.
- Place your stop loss 1 – 3 pips below short-term support.
- Exit the buy trade for a fixed profit target or when a sell signal occurs on the chart.
- A new sell signal is given when the stars turn back to red color from blue.
- Place your stop loss 1 – 3 pips above short-term resistance.
- Exit the sell trade for a fixed profit target or when a buy signal occurs on the chart.
How to install the Kuskus Starlight Forex indicator to the Metatrader 4 platform?
- Download the kuskus_starlightv2.ex4 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