Introduction to Buy Sell Signal Indicator MT4:
The momentum in the forex market is significant and can give a lot of information regarding the prediction of price in the near future. Buy sell Signal indicator mt4 uses the market’s momentum and shows us the chart’s clear buy and sell signals. Once there are impulsive moves in the market, it will move very swiftly and give a lot of volatility. By using buy sell indicator, we can utilize those whimsical moves to enter the market.
Working of Buy Sell Indicator:
After applying the indicator to mt4 charts, you will see buy and sell signals in the form of up and down arrows. When there is an impulsive move in the market, the indicator detects it. After calculations on the previous bars, the hand gives us the signal. This indicator works specifically well when the market is trending. That is why you should also pay close attention to the price at a higher timeframe. Because if you take the sell trade while the market is moving in a bullish direction at a higher time frame, you will most probably hit the stop loss before making any profit.
Settings of Buy Sell MT4 indicator:
In the settings of this indicator, we get the following options.
Mode: You can change the indicator’s sensitivity by changing the value of this number. The lower the numbers, the higher the sensitivity.
StartBar: You can specify where the indicator should start counting the bars to show the reversal of a trend.
Confirm: This shows the distance between two reversals.
Flat: This shows the gap between the two reversals.
SoundAlert: If true, it will give you an alert whenever the signal is detected
EmailAlert: Emails you when it detects any reversal
Trading Strategy for Buy Sell Indicator:
We can follow the following strategy to trade using the buy sell indicator for mt4.
- Step 1: Wait for the indicator to give a buy signal.
- Step 2: Confirm the trend is bullish on a higher timeframe.
- Step 3: Take a long position after bullish trend confirmation.
- Step 4: Put a stop loss at the previous candle’s low.
- Step 5: Close trade and profit once the indicator gives a sell signal.
- Step 1: Wait for the indicator to give a sell signal.
- Step 2: Confirm the trend is bearish on a higher timeframe.
- Step 3: Take a short position after bullish trend confirmation.
- Step 4: Put a stop loss at the previous candle’s high.
- Step 5: Close trade and profit once the indicator gives a buy signal.
The Buy Sell indicator gives a clear signal and has a straightforward strategy that everyone can follow no matter if they are new to trading or have been trading for a while. Also, this indicator can be used at all timeframes, but I have seen it to be most effective at intraday trading time frames.
You can download the indicator and use it on mt4 for free at the link below.Download indicator