The Profit Impulse Forex indicator measures bulls versus bears in the market and draws buy and sell signal bars based on that information.
The result is a dual colored trend-following indicator that appears underneath the main MT4 trading chart.
You can use the Profit Impulse indicator for scalping, day trading and swing trading.
The buy and sell signals issued by the indicator are easy to follow and doesn’t require much of your time.
Key Takeaways
- A green Profit Impulse trend bar represents an uptrending currency market.
- A red Profit Impulse trend bar represents a downtrending currency market.
- Use on the majors and minors currency pairs.
Read below how to open buy and sell trades with the Forex Profit Impulse MT4 indicator.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “bears-bulls-impulse-indicator.ex4” Metatrader 4 indicator
Profit Impulse Forex MT4 Indicator Chart
Here’s an example (EUR/ZAR H1 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 Profit Impulse MT4 Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy trade on the condition that a green bar appears on the chart. This is your buy trade entry signal.
Place initial stop loss underneath the most recent swing low support level, or use your own favorite SL method.
Close the buy trade when an opposite sell signal (red bar) appears on the chart.
Alternatively, close the buy trade for a fixed TP, for instance, +20 pips on the M5 intraday chart.
Sell Trigger: Open a sell trade on the condition that a red bar appears on the chart. This is your sell trade entry signal.
Place initial stop loss above the most recent swing high resistance level, or use your own favorite SL method.
Close the sell trade when an opposite buy signal (green bar) appears on the chart.
Alternatively, close the sell trade for a fixed take profit, for instance, +10 pips on the M1 intraday chart.
Download This Forex Indicator Now
Download the “bears-bulls-impulse-indicator.ex4” MT4 indicator
Adjustable Parameters
MA period, MA mode, MA price, color, width, style.
Usage
The indicator can be deployed as a standalone trading system or strategy.
It can also be combined with:
- Trading oscillators (RSI, 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
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
