The Entry & Take Profit Forex Winner indicator for MT4 identifies the best possible buy and sell trade opportunities in any market.
The indicator is beginner-friendly and works equally well for scalpers, day traders, and swing traders.
The signals appear as blue and red colored arrows on the activity chart.
The purple colored line that appears above/below the actual signal can be used as a stop-loss line.
Key Features
- Simple to use buy/sell indicator
- Non-repaint trading signals
- Beginner friendly
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a simple buy/sell entry confirmation tool.
Free Download
Download the “Entry Take Profit.ex4” MT4 indicator
Indicator Example Chart
The GBP/USD 1-minute chart below shows the Entry & Take Profit Forex Winner indicator in action.
Trading Signals
Signals from the Entry & Take Profit indicator for Metatrader 4 are easy to interpret and go as follows:
BUY:
- A blue upward-pointing arrow that gets printed on the chart represents a buy signal.
- Place the stop loss below the purple dotted line.
- Take profit when the red signal arrow pops up on the chart.
SELL:
- A red downward-pointing arrow that gets printed on the chart represents a sell signal.
- Place the stop loss above the purple dotted line.
- Take profit when the blue signal arrow pops up on the chart.
Download Now
Download the “Entry Take Profit.ex4” MT4 indicator
Entry Confirmation Strategy Using MACD with Forex Winner Indicator
The Entry & Take Profit Forex Winner Indicator MT4 is designed to help traders identify precise entry and exit points.
You can improve its accuracy by combining it with the MACD indicator to confirm momentum and trend direction.
Recommended Chart Setup
- Primary Indicator: Entry & Take Profit Forex Winner Indicator MT4
- Confirmation Tool: MACD (12, 26, 9)
- Timeframe: 15-minute (M15) or 1-hour (H1)
Buy Trade Rules
- Wait for a buy signal from the Forex Winner Indicator.
- Check that the MACD histogram is above the zero line and rising, indicating bullish momentum.
- Enter a buy trade at the close of the signal candle.
Sell Trade Rules
- Wait for a sell signal from the Forex Winner Indicator.
- Ensure the MACD histogram is below the zero line and falling, indicating bearish momentum.
- Enter a sell trade at the close of the signal candle.
Stop Loss and Take Profit
- Stop Loss: Use the level suggested by the Forex Winner Indicator or just below/above the recent swing low/high.
- Take Profit: Follow the take profit level shown by the indicator or aim for a fixed risk-to-reward ratio of 1:2.
Best Practices
- Trade during high-volume sessions such as London or New York.
- Avoid trading during flat markets or immediately before major economic releases.
- For better results, combine with a trend filter such as a 50 EMA.
Parameters & Settings
Use ATR mode, non-ATR stop pips, ATR period, ATR multiplier, and ATR smoothing
Feel free to explore the indicator’s different parameters and settings to create your personalized indicator setup.
Technical Information
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works on any time frame
Indicator Type: Signals
How to install the Entry & Take Profit indicator in Metatrader 4?
- Copy and paste the Entry Take Profit.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
