The Wave Minor Forex indicator for Metatrader 4 is a solid technical oscillator that provides easy to use buy & sell signals.
The indicator works very well under most market conditions, even in trendless markets.
The Wave Minor indicator appears in a bottom chart of the trading platform as a blue/red colored oscillator that fluctuates above and below the zero level.
Histogram bars above the zero level are bullish while bars below the zero level bearish.
- Buy/sell technical oscillator
- Works well in most market conditions
- Works for any trading instrument
- Does not repaint
- Developed for Metatrader 4
Indicator Chart Example
The picture below shows the Wave Minor 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:
- A buy signal is given when the histogram bar turns back above the zero level.
- Place stop loss below short-term support.
- A sell signal is given when the histogram bar turns back below the zero level.
- Place stop loss above short-term resistance.
How to install the Wave Minor Forex indicator to the Metatrader 4 platform?
- Download the kg-wave-minor-indicator.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