The Sideways Price Action Forex Detector indicator for Metatrader 4 identifies and paints interesting areas of sideways price action on the trading chart.
The indicator draws a blue rectangle around the sideways price action area.
These range-bound areas can be used to trade powerful breakouts in both directions.
Buy & Sell Trade Example
- Open a buy trade when the price closes above the blue rectangle and the underlying trend is up.
- Open a sell trade when the price closes below the blue rectangle and the underlying trend is down.
The indicator works for any Metatrader 4 instrument.
The Sideways PA indicator is very reliable, lightweight, and will not slow down your trading platform.
Free Download
Download the “SidewaysDetector.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Sideways Price Action Forex Detector mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy when trading with the Sideways Price Action Forex Detector indicator.
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)
Currency pairs: Works for any pair
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: Price action
Does the indicator repaint? No.
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Download the “SidewaysDetector.mq4” indicator for Metatrader 4
