About the Bull Bear Forex Signal Indicator
The Bull Bear Forex Signal indicator for MT4 is a popular buy and sell signals tool that follows the major currency trend with high accuracy.
It serves as a visual filter that keeps you focused on high-probability setups during volatile trading sessions.
The indicator appears in a sub-MT4 window as blue and magenta colored histogram bars.
When the blue bars are present, the bulls are in control; when the magenta bars take over, the bears have seized the lead.
Free Download
Download the “SEFC084.ex4” indicator for MT4
Key Features
- It utilizes a color-coded histogram to provide instant visual confirmation of the current trend.
- The indicator focuses on major market moves, helping to filter out minor price noise.
- It works effectively across all asset classes, including forex, gold, and stock indices.
- The sub-window placement keeps the main price chart clean for horizontal level analysis.
- It identifies potential reversal points early by tracking the shift in bar colors.
Indicator Chart
The Bull Bear Forex Signal indicator chart features a separate window below the main price action where the histogram is displayed.
Blue bars rising above the zero line represent bullish momentum, suggesting that buyers are currently dominating the pair.
Magenta bars indicate bearish momentum, showing that sellers are pushing price lower.
By watching for the transition between these two colors, a trader can easily spot the birth of a new trend.
Guide to Trade with Bull Bear Forex Signal Indicator
Trading with this tool involves monitoring the histogram for color shifts that signal a change in market control.
Buy Rules
- Start by checking that the main chart is showing signs of an upward move.
- Watch the indicator window for the transition from magenta to blue.
- Open a buy trade as soon as the first blue histogram bar appears on the chart.
- Confirm the signal by ensuring the current candle has closed with bullish conviction.
Sell Rules
- Begin by verifying that the overall market sentiment is turning downward.
- Monitor the histogram until the bars shift from blue to magenta.
- Open a sell trade as soon as the first magenta histogram bar appears on the chart.
- Verify the entry by checking for a bearish rejection at a recent resistance level.
Stop Loss
- Secure your buy entry by placing the stop loss just under the most recent swing low.
- Protect your sell trade by positioning the stop loss slightly above the latest swing high.
- Adjust your exit point to account for current market volatility and spread.
- Keep your risk per trade within a fixed percentage of your total account balance.
Take Profit
- Close the position the moment a bar of the opposite color appears on the histogram.
- Lock in gains at a 1:2 risk-to-reward ratio to maintain a positive trading edge.
- Consider exiting near major historical support or resistance zones.
- Liquidate the trade if the histogram bars begin to shrink significantly in size.
Bull Bear Forex Signal Indicator + Free Forex Scalping MT4 Strategy
This MT4 scalping strategy uses the Bull Bear Forex Signal Indicator and the Free Forex Scalping Indicator.
It’s designed for short‑term trades on major currency pairs like EUR/USD, GBP/USD, USD/JPY, and AUD/USD, focusing on clear momentum and small targets.
The Bull Bear Forex Signal Indicator displays a histogram: blue bars indicate a buy trend, magenta bars indicate a sell trend.
The Free Forex Scalping Indicator shows a histogram where green bars signal a buy and red bars signal a sell.
By combining the two indicators, you wait for trend confirmation (blue or magenta) and a timely signal (green or red) before entering a trade.
Buy Entry Rules
- Ensure the Bull Bear histogram is showing blue bars (buy trend).
- Then wait for the Free Forex Scalping histogram to turn green (buy signal).
- Enter a buy position at the close of the confirming candle.
- Set the stop loss a few pips below the recent swing low or just under the entry candle.
- Set take profit at around 10‑20 pips, or exit when the Free Forex Scalping histogram switches red.
Sell Entry Rules
- Ensure the Bull Bear histogram is showing magenta bars (sell trend).
- Then wait for the Free Forex Scalping histogram to turn red (sell signal).
- Enter a sell position at the close of the confirming candle.
- Set the stop loss a few pips above the recent swing high or the entry candle.
- Set take profit at around 10‑20 pips, or exit when the Free Forex Scalping histogram turns green.
Advantages
- Simple to read: two histograms give trend and signal confirmation.
- Scalping‑friendly: small targets, fast trades suitable for high‑liquidity pairs.
- Works across several major currency pairs, providing flexibility.
- Reduces the chance of trading against the trend by requiring trend confirmation first.
Drawbacks
- In sideways or low‑volatility markets, the signals may be weak or delayed.
- Small profit targets mean each trade must be well managed with tight risk control.
- The histogram signals can lag slightly in fast reversals or very volatile sessions.
Example Case Study 1: EUR/USD M5 Chart
On EUR/USD during the London session, the Bull Bear histogram turned blue, signaling a buy trend.
Shortly thereafter, the Free Forex Scalping histogram turned green.
A buy trade was entered at 1.0905 with a stop loss at 1.0895 and a take profit at 1.0920 (15 pips).
The trade reached the target in 20 minutes, showing how the combo of trend + signal works for a fast scalp.
Example Case Study 2: AUD/USD M1 Chart
On the AUD/USD pair in a 1‑minute chart, the Bull Bear histogram showed magenta bars (sell trend), and the Free Forex Scalping histogram then turned red (sell signal).
A sell was placed at 0.6730, stop loss at 0.6740, take profit at 0.6715 (15 pips).
Within 12 minutes, the move was completed, demonstrating the strategy’s speed across another pair.
Strategy Tips
- Trade only major pairs like EUR/USD, GBP/USD, AUD/USD, and USD/JPY for tighter spreads and better execution.
- Use M1, M5, or M15 timeframes for scalping—shorter frames suit the small‑target nature.
- Avoid trading when either histogram is flat or mixed; wait for a clear color change and alignment.
- Use a small risk per trade (e.g., 0.5‑1% of the account) because scalps are frequent and must avoid big drawdowns.
- Stay away from trading right before major news if you’re not experienced—volatility may break the rules.
Download Now
Download the “SEFC084.ex4” indicator for Metatrader 4
FAQ
What makes the histogram bars change color?
The color change is triggered by a calculation that compares current price momentum against previous averages.
When the current price action exceeds the bearish threshold, the indicator paints a blue bar.
When the price falls below the bullish threshold, it paints a magenta bar.
This allows you to see the exact moment the balance of power shifts between the bulls and the bears.
Can I use this indicator on the 1-minute chart for scalping?
Yes, the Bull Bear Forex Signal is very responsive and can be used for scalping.
On lower timeframes, it helps you catch quick momentum bursts that are common during the London and New York overlaps.
Just be sure to trade in the direction of the 1-hour or 4-hour trend to increase the probability of your scalping signals being successful.
Is it better to use this alongside other indicators?
While the Bull Bear indicator provides strong signals on its own, it works exceptionally well when combined with a moving average or support and resistance levels.
For instance, taking a blue buy signal only when the price is above a 50-period moving average helps you filter out low-quality trades and focus on the strongest market trends.
Summary
The Bull Bear for MT4 is an effective momentum tool that assists in determining the appropriate timing for market entries.
This tool helps traders maintain a consistent routine by highlighting levels where the market is statistically likely to continue its current direction.
Using this indicator allows you to filter high-risk trades and focus on high-conviction momentum shifts.
