The Target Points Forex indicator for Metatrader 4 is a complete trading system that provides the entry, stop loss and 3 take profit target points.
The indicator appears in the main screen of the trading platform as a mini dashboard and the actual signal lines for buy and sell entries.
The mini dashboard displays the entry levels for both buy and sell trades, the recommended stop loss and 3 target points.
The Target Points indicator can be used by newbies and seasoned traders.
General Information
- Complete Forex system
- Provides the entry levels
- Provides the stop loss
- 3 Target points
- Does not repaint
- Developed for Metatrader 4
Free Download
Download the kg-target-points.ex4 indicator file (MT4)
Indicator Chart Example
The picture below shows the Target Points Forex indicator attached to the EUR/USD 1-hour chart.
How to use this Forex indicator?
This Forex indicator can be used in multiple ways, find an example below:
Buy Signal:
- Open a pending buy order at the suggested buy entry point.
- Place stop loss at the recommended stop loss level for buy trades.
- Exit the buy trade at any of the target point levels for buy trades.
Sell Signal:
- Open a pending sell order at the suggested sell entry point.
- Place stop loss at the recommended stop loss level for sell trades.
- Exit the sell trade at any of the target point levels for sell trades.
How to install the Target Points indicator to the Metatrader 4 platform?
- Download the kg-target-points.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
