The Velocity Waves Forex indicator (mt4) analyzes price action and transforms the chart into a velocity waves trend indicator.
The indicator can be used for both trade entries and exits or it can act as an additional trend confirmation filter.
A blue rectangle indicates bearish price action while the red rectangle indicates bullish price action.
In essence, it show you overall trend direction.
Feel free to play with the indicator’s default settings and different parameters.
Free Download:
Download the “VelocityWaves.mq4” indicator for MT4
Indicator Example Chart (EUR/USD H1)
The example chart below shows the Velocity Waves Forex indicator in action on the MT4 trading platform.
Trading Tips:
Velocity Waves can be combined with a buy & sell signal indicator for exact trade entry.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Trading Instruments: Any
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Overall trend detection
Does the indicator repaint? No.
Download Now:
Download the “VelocityWaves.mq4” indicator for Metatrader 4
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the indicator in the Indicators folder.
Finally restart the trading platform and attach the indicator to any chart.
How to remove the indicator?
Right click with your mouse on the chart that you have the indicator attached to.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse on the chart that you have the indicator attached to.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.
