The Prodigy Day Trading Forex indicator for mt4 is an amazing buy & sell signal indicator that keeps you in the most profitable trend.
The indicator pops up in the main MT4 chart window as an array of buy & sell signal arrows.
It can be used for trade re-entry as well and fits both scalpers and day traders.
Buy & Sell Trade Example
- Open a buy position as soon as the first green arrow gets printed on the chart.
- Open a sell position as soon as the first red arrow gets printed on the chart.
- Close and reverse the trade whenever an opposite signal arrives on the chart.
The Prodigy Day Trading Forex indicator can be used for both trade entry and exit or as a trend filter.
For scalping, the indicator performs best during the London and New York trading sessions.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Prodigy day trading.ex4” indicator for MT4
Indicator Chart (EUR/USD M15)
The picture below shows the Prodigy Day Trading Forex mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Prodigy Day Trading Forex 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: Signals
Does the indicator repaint? No.
Prodigy Indicator + Gann Trend Oscillator Forex Intraday Strategy
This intraday trading strategy combines the accuracy of the Prodigy Day Trading Forex Indicator with the confirmation strength of the Gann Trend Oscillator MTF Indicator.
It’s built for traders who want clear, actionable signals throughout the day without lag or confusion.
The Prodigy Indicator provides clear visual guidance: a blue line signals a buy entry, while a magenta line signals a sell entry.
The Gann Trend Oscillator confirms the direction—showing a blue histogram for bullish momentum and a violet histogram for bearish pressure.
By combining both, traders can confidently align their entries with the market trend and reduce false trades.
Buy Entry Rules
- Wait for the Prodigy indicator to display a blue line.
- Confirm that the Gann Trend Oscillator histogram turns blue, indicating bullish momentum.
- Enter a buy position at the candle close once both indicators align.
- Set a stop loss 20–25 pips below the recent swing low.
- Set a take profit target between 35–50 pips or close the trade when the Gann histogram changes to violet.
Sell Entry Rules
- Wait for the Prodigy indicator to show a magenta line.
- Confirm that the Gann Trend Oscillator histogram turns violet, signaling bearish pressure.
- Enter a sell position at the candle close once both signals align.
- Place a stop loss 20–25 pips above the recent swing high.
- Set a take profit target between 35–50 pips or exit when the histogram changes to blue.
Advantages
- Combines pattern recognition and momentum confirmation for greater accuracy.
- Easy-to-follow visual setup ideal for intraday traders.
- Reduces false entries by confirming both direction and trend strength.
- Works effectively on major currency pairs like EUR/USD, GBP/USD, and USD/JPY.
Drawbacks
- Signals may appear less frequently on lower time frames.
- False signals can occur during ranging or low-volatility sessions.
- Requires manual monitoring to exit trades effectively.
Example Case Study 1 – EUR/USD
On the 15-minute chart, the Prodigy indicator printed a blue line near 1.0835 while the Gann Trend Oscillator histogram turned blue.
A buy trade was taken at 1.0837 with a stop loss at 1.0812 and a target of 1.0885.
Within four hours, the pair climbed steadily, hitting the take profit for a gain of +48 pips.
Example Case Study 2 – GBP/JPY
During the London session, GBP/JPY showed a magenta line on Prodigy around 190.45, confirmed by a violet histogram on Gann.
A short trade was entered at 190.40 with a stop loss at 190.75 and a take profit at 189.75.
The price dropped sharply, hitting the target within two hours, securing +65 pips profit.
Strategy Tips
- Focus on active market sessions (London and New York) for stronger price movements.
- Use the 15M or 30M chart for the best intraday results.
- Consider partial profit-taking at 1:1 risk/reward to secure gains early.
Download Now
Download the “Prodigy day trading.ex4” indicator for Metatrader 4
