The Target Points Forex indicator for mt4 (Metatrader 4) analyses the chart and provides take profit levels for both long and short trades.
The indicator appears in the main MT4 chart as a dashboard that contains 4 take profit levels for long trades and 4 take profit levels for short trades.
Additionally, it also provides the recommended stop loss level for buy and sell trades.
This indicator can be used together with your own favorite buy/sell indicator, trading system or strategy.
Free Download
Download the “kg target points.ex4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the Target Points 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 Target Points 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: Profit target
Does the indicator repaint? No.
Target Points + SuperTrend MTF MT4 Day Trading Strategy
This day trading strategy combines the Target Points Forex Indicator with the SuperTrend MTF Forex Signal Indicator for MetaTrader 4.
The Target Points Indicator provides clearly defined target levels and stop loss points for both buy and sell trades.
The SuperTrend MTF Indicator displays a green line for bullish signals and a red line for bearish signals.
Together, these indicators help traders identify high-probability day trading opportunities with clear risk management.
This strategy works best on M15 to H1 charts and is suitable for major and minor currency pairs.
Buy Entry Rules
- Confirm a bullish signal when the SuperTrend MTF line turns green.
- Check that the price is above a recent support target level indicated by the Target Points Indicator.
- Enter a buy trade at the market price or on a minor pullback.
- Place the stop loss at the stop loss level suggested by the Target Points Indicator for the buy trade.
- Set the take profit at the target level indicated by the Target Points Indicator or a reasonable intraday target (e.g., 20–30 pips), depending on volatility.
Sell Entry Rules
- Confirm a bearish signal when the SuperTrend MTF line turns red.
- Check that the price is below a recent resistance target level indicated by the Target Points Indicator.
- Enter a sell trade at the market price or on a minor retracement.
- Place the stop loss at the stop loss level suggested by the Target Points Indicator for the sell trade.
- Set the take profit at the target level indicated by the Target Points Indicator or a reasonable intraday target (e.g., 20–30 pips).
Advantages
- Provides clear buy/sell signals combined with predefined stop loss and target levels.
- Helps manage risk with structured trade planning.
- Suitable for day trading across multiple currency pairs.
- Easy to use with clear visual cues from both indicators.
Drawbacks
- Signals may lag slightly in very fast-moving markets.
- During sideways or choppy conditions, the strategy may produce false signals.
- Requires active monitoring to exit trades if price reacts unpredictably to key levels.
Example Case Studies
Case Study 1 – AUD/USD M15
The SuperTrend MTF line turned green, confirming a bullish trend.
The Target Points Indicator suggested a support level at 0.6650 and a target at 0.6675.
A buy trade was entered at 0.6652, with a stop loss at 0.6640.
The price moved in favor of the trade and hit the target level within the morning session, yielding 23 pips profit.
Case Study 2 – USD/CHF H1
The SuperTrend MTF line turned red, indicating a bearish trend.
The Target Points Indicator identified a resistance at 0.9100 and a target at 0.9075.
A sell trade was entered at 0.9098 with a stop loss at 0.9110.
The market moved downward as expected, reaching the target level for a 23-pip gain during the day trading session.
Strategy Tips
- Always trade in the direction of the SuperTrend MTF signal to avoid counter-trend losses.
- Use higher timeframes to validate target levels and trend strength before entering trades.
- Monitor economic news events that may cause sudden spikes beyond target points.
- Adjust stop loss and take profit levels based on current volatility for better risk management.
- Consider taking partial profits if the price approaches the target level slowly, then let the remainder run for maximum gain.
- Focus on currency pairs with high liquidity for faster execution and tighter spreads.
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Download the “kg target points.ex4” indicator for Metatrader 4
