Tops And Bottoms Forex Identifier MT4 Indicator
The Tops and Bottoms Forex Identifier MT4 indicator identifies possible tops and bottoms price reversal signals for any given period and pair.
Typically, price reversal signals can offer you a good ROI with the help of low risk stops.
It’s highly recommended to combine the Forex Tops & Bottoms indicator with other indicators to pinpoint the very best entry price.
For scalping, utilize on the major currency pairs in the London and American trading sessions.
Just load the Tops And Bottoms Forex Identifier indicator onto the Metatrader 4 chart and start trading with it in minutes.
- A big blue colored bullet identifies a possible top on the chart.
- A big magenta colored bullet identifies a possible bottom on the chart.
- Combine with other technical indicators or with price action methods.
- Works for any pair and chart.
Feel free to explore the Tops And Bottoms Forex Identifier indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Chart (EUR/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Tops And Bottoms Forex Identifier MT4 Indicator
Buy Signal: Open a long position as soon as the magenta bullet appears on the chart. Confirm the buy trade with additional indicators or with price action.
Set your stop loss just below short-term support, or use your own favorite stop loss strategy.
Exit the buy trade for a reward/risk ratio of 2.5 or better, or apply a fixed profit target (for example +30 pips on the M5 chart).
Sell Signal: Open a short position as soon as the blue bullet appears on the chart. Confirm the sell trade with additional indicators or with price action.
Set your stop loss just above short-term resistance, or use your own favorite stop loss strategy.
Exit the sell trade for a reward/risk ratio of 2.5 or better, or apply a fixed profit target (for example +20 pips on the M1 chart).
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Period 1, period 2, period 3, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: tops and bottoms
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.