About the Lucky Reversal Forex Indicator
The Lucky Reversal Forex Indicator for Metatrader 4 is a trend reversal tool designed to help traders identify key turning points in the currency market.
By displaying clear bullish and bearish signals, it allows traders to enter or exit positions with confidence.
The indicator appears as arrows on the main MT4 chart window.
Blue arrows indicate bullish reversals, while red arrows indicate bearish reversals.
This simple visual setup helps traders quickly recognize potential trend changes without relying on complex analysis.
Lucky Reversal can be used as a standalone system or as a counter-trend filter alongside other strategies.
This flexibility makes it suitable for both scalpers and swing traders.
When used on lower timeframes, the indicator performs best during high-liquidity sessions such as London and New York.
Free Download
Download the “lucky-reversal-indicator.mq4” indicator for MT4
Key Features
- Displays blue and red arrows to mark trend reversals
- Suitable for trade entry and exit
- Can act as a counter-trend filter for other strategies
- Works across multiple timeframes and currency pairs
- Ideal for scalping during London and New York sessions
- Easy-to-read visual signals for quick decisions
Indicator Chart
The chart shows the Lucky Reversal Forex Indicator applied to an MT4 chart.
Blue arrows appear at bullish trend reversals, while red arrows mark bearish reversals.
Traders can use these signals to enter trades at the early stages of new trends.
Guide to Trade with Lucky Reversal Forex Indicator
Buy Rules
- Wait for a blue arrow to appear on the chart
- Enter a buy trade at the close of the signal candle
Sell Rules
- Wait for a red arrow to appear on the chart
- Enter a sell trade at the close of the signal candle
Stop Loss
- Place the stop loss a few pips beyond the arrow signal in the opposite direction to account for market noise
- For a buy signal, set the stop just below the blue arrow candle low
- For a sell signal, set the stop just above the red arrow candle high
Take Profit
- Exit trades at the next significant support or resistance level
- Reverse the trade at the opposite arrow
- Partial profits can be taken mid-trend for lower risk
Practical Tips
- Use during the London and New York sessions for better scalping results
- Combine with trend indicators to confirm reversal signals
- Avoid taking trades during low liquidity periods
Lucky Trend Reversal Indicator & SuperTrend MTF MT4 Intraday Strategy
This intraday strategy combines the Lucky Reversal Indicator and the SuperTrend MTF Forex Signal Indicator to catch trend reversals within the day.
The Lucky Reversal Indicator provides blue arrows for bullish reversals and red arrows for bearish reversals.
The SuperTrend MTF line shows the overall trend: green for buy and red for sell.
Aligning these indicators helps intraday traders enter trades with higher probability and manage risk effectively on 5-minute and 15-minute charts.
Buy Entry Rules
- Ensure the SuperTrend MTF line is green, indicating a buy trend.
- Wait for a blue arrow from the Lucky Reversal Indicator, signaling a bullish reversal.
- Enter a buy trade immediately after the blue arrow appears in alignment with the green SuperTrend line.
- Place a stop loss below the most recent swing low.
- Set a take profit target of 15–25 pips or at the next significant resistance level.
- Close the trade immediately if the Lucky Reversal arrow changes to red or the SuperTrend line turns red.
Sell Entry Rules
- Ensure the SuperTrend MTF line is red, indicating a sell trend.
- Wait for a red arrow from the Lucky Reversal Indicator, signaling a bearish reversal.
- Enter a sell trade immediately after the red arrow appears in alignment with the red SuperTrend line.
- Place a stop loss above the most recent swing high.
- Set a take profit target of 15–25 pips or at the next significant support level.
- Close the trade immediately if the Lucky Reversal arrow changes to blue or the SuperTrend line turns green.
Advantages
- Combines reversal signals with overall trend direction for higher probability trades.
- Works well for intraday trading on 5-minute and 15-minute charts.
- Clear entry and exit rules reduce confusion and improve decision-making.
- Allows quick reaction to trend reversals, capturing early moves in the market.
- Suitable for multiple currency pairs, including EUR/USD, GBP/USD, and AUD/USD.
Drawbacks
- Requires constant monitoring due to fast intraday price movements.
- False reversal arrows can occur in choppy or ranging markets.
- Profit targets are limited to 15–25 pips per trade, requiring multiple trades for larger gains.
- Performance may vary across different currency pairs and market sessions.
Case Study 1: EUR/USD 5-Minute Chart
The SuperTrend MTF line was green, indicating an uptrend.
A blue arrow from the Lucky Reversal Indicator appeared, signaling a bullish reversal.
The trader entered a buy trade with a stop loss below the recent swing low and a take profit of 20 pips.
The trade moved in favor, and when the Lucky Reversal arrow later turned red, the position was closed, securing profits.
Case Study 2: AUD/USD 15-Minute Chart
The SuperTrend MTF line was red, showing a bearish trend.
A red arrow appeared on the Lucky Reversal Indicator, signaling a sell opportunity.
The trader entered a sell trade with a stop loss above the recent swing high and a take profit at 25 pips.
The trade reached the target, and when the Lucky Reversal arrow later turned blue, the trade was closed to avoid reversals.
Strategy Tips
- Use during high liquidity sessions for tighter spreads and smoother execution.
- Combine with support and resistance levels to improve entry accuracy.
- Adjust lot sizes based on account balance and risk tolerance.
- Exit trades immediately if either the Lucky Reversal arrow or SuperTrend line changes color.
- Avoid trading during major news events to minimize volatility risk.
Download Now
Download the “lucky-reversal-indicator.mq4” indicator for Metatrader 4
FAQ
Can this indicator be used alone?
Yes, Lucky Reversal can be used as a standalone trading tool for both entry and exit signals.
Which timeframes work best?
Lower timeframes such as M5 and M15 are ideal for scalping, while higher timeframes can be used for swing trading.
Can it be used with other strategies?
Yes, the indicator works well as a counter-trend filter or confirmation tool alongside other systems.
Summary
The Lucky Reversal Forex Indicator for MT4 offers traders a clear method to spot trend reversals in the currency market.
Blue and red arrows provide actionable signals for entering and exiting trades efficiently.
It performs best during active trading sessions and can be combined with other indicators in your strategy to enhance accuracy, confirm trend direction, and improve overall trade timing.
