The Bitcoin Trader MT4 indicator is a buy/sell signal indicator that can be used for Bitcoin trading or any other cryptocurrency.
The indicator follows the Bitcoin trend for any time frame of your choice.
A bullish Bitcoin trend occurs when the indicator draws a blue line on the chart.
In this case, Bitcoin traders look to buy the cryptocurrency.
A bearish Bitcoin trend occurs when the indicator draws a yellow line on the chart.
In this case, Bitcoin traders look to sell the cryptocurrency.
The Bitcoin Trader MT4 indicator settings can be fully modified from the indicator’s inputs menu.
Experiment with its settings!
Feel free to use the indicator on other cryptocurrencies as well (Ethereum, Ripple,…).
Free Download
Download the “Bitcoin-Trader.ex4” MT4 indicator
Indicator Chart (Bitcoin M5)
The Bitcoin 5-Minute chart below displays the Bitcoin Trader Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Bitcoin Trader MT4 indicator are easy to interpret and go as follows:
Buy Signal: Buy Bitcoin when the Bitcoin Trader indicator signal line changes color from yellow to blue.
Sell Signal: Sell Bitcoin when the Bitcoin Trader indicator signal line changes color from blue to yellow.
Trade Exit: Use your own method of trade exit.
Bitcoin Trader Indicator + Fibonacci MTF Channel Strategy for Crypto Trading
This strategy combines the precision of the Bitcoin Trader MT4 Indicator with trend analysis from the Fibonacci MTF Channel MT4 Indicator.
The Bitcoin Trader indicator signals buy or sell opportunities with a blue or yellow line.
The Fibonacci MTF Channel confirms the overall trend with upward sloping channels indicating a buy trend and downward sloping channels indicating a sell trend.
This combination allows traders to enter high-probability positions by aligning momentum signals with the channel trend.
The strategy works best on M15 and H1 charts, providing enough reaction time for crypto volatility while allowing multiple intraday setups.
Trades are taken only when the signal line direction aligns with the channel slope, reducing false entries in volatile markets.
Buy Entry Rules
- Fibonacci MTF Channel is upward sloping, confirming a bullish trend.
- Bitcoin Trader MT4 Indicator shows a blue line, indicating a buy signal.
- Enter a buy trade at the close of the signal candle or the next candle open.
- Place a stop loss below the lower boundary of the channel or recent swing low.
- Take profit at the next swing high or exit if the Bitcoin Trader indicator switches to a yellow sell line.
Sell Entry Rules
- Fibonacci MTF Channel is downward sloping, confirming a bearish trend.
- Bitcoin Trader MT4 Indicator shows a yellow line, indicating a sell signal.
- Enter a sell trade at the close of the signal candle or the next candle open.
- Place a stop loss above the upper boundary of the channel or recent swing high.
- Take profit at the next swing low or exit if the Bitcoin Trader indicator switches to a blue buy line.
Advantages
- Combines momentum signals with trend confirmation for higher probability entries.
- Suitable for volatile crypto markets like Bitcoin and Ethereum.
- Flexible take profit and stop loss placement based on channel boundaries and swing levels.
- Can be applied on multiple timeframes to match trading style and risk tolerance.
Drawbacks
- Crypto markets are highly volatile, and sudden spikes may trigger stop losses before trend continuation.
- Waiting for alignment between the signal and channel may reduce the number of trade opportunities.
- News events or market sentiment changes can cause false signals.
- Requires monitoring during active hours due to rapid price movements in cryptocurrencies.
Case Study 1 – Buy Trade on Bitcoin (BTCUSD) H1
During a New York session, the Fibonacci MTF Channel for BTCUSD was sloping upward.
The Bitcoin Trader indicator generated a blue buy line at 58,200.
A buy trade was opened at 58,200 with a stop loss at 57,750 near the channel’s lower boundary.
Price moved upward to 59,100, and the trade was closed for a gain of 900 points.
Combining trend confirmation with the buy signal captured a strong intraday move.
Case Study 2 – Sell Trade on Ethereum (ETHUSD) H1
On ETHUSD, the Fibonacci MTF Channel was sloping downward.
The Bitcoin Trader indicator showed a yellow sell line at 4,020.
A sell trade was placed at 4,020 with stop loss at 4,080 above the channel upper boundary.
Price declined to 3,920, and the trade was closed for a profit of 100 points.
Strategy Tips
- Focus on high liquidity periods for cryptocurrencies to reduce slippage and increase trade reliability.
- Use reasonable position sizing because crypto volatility can cause rapid price swings.
- Wait for full confirmation of both signal and channel direction before entering a trade.
- Adjust stop loss and take profit according to the channel width and market volatility.
- Avoid trading during major crypto news or announcements to reduce the risk of sudden spikes.
- Test the strategy on a demo account to understand signal timing and channel behavior for different cryptocurrencies.
Download Now
Download the “Bitcoin-Trader.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Cryptocurrencies: Any (Bitcoin, Litecoin, Dash, Ethereum,..)
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (signal period, filter, take profit, stop loss, alerts ) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: signal
