The FX Prime indicator for the Metatrader 4 platform is a simple, yet precise buy and sell signal indicator that follows the most profitable trend.
The indicator pops up in the main MT4 chart window as a bi-colored signal line.
Buy & Sell Trade Example
- A green colored signal line is a buy signal.
- A red colored signal line is a sell signal.
- Reverse the open position whenever an opposite signal is displayed on the chart.
The FX Prime indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
For scalping and day trading purposes, the indicator tends to generate the most profit during the London and U.S. trading sessions.
The indicator works equally well on all currency pairs (majors, minors, and exotics) and shows promising results when used correctly.
Free Download
Download the “fxprime.mq4” indicator for MT4
Indicator Chart (EUR/USD Daily)
The example chart below displays the FX Prime mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the FX Prime 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: Trend signal
Does the indicator repaint? No.
FX Prime Trend + Waddah Attar Trend Scalper MT4 Intraday Strategy
This intraday trading strategy combines the FX Prime Trend Indicator with the Waddah Attar Trend Scalper Indicator to filter strong market trends and pinpoint precise entries.
The FX Prime Trend Indicator plots a green line for bullish conditions and a red line for bearish conditions.
The Waddah Attar Trend Scalper Indicator shows green histogram bars for buy opportunities and red histogram bars for sell opportunities.
This combination helps intraday traders align with momentum while avoiding weak or false signals.
Buy Entry Rules
- The FX Prime Trend Indicator line must be green (bullish trend).
- The Waddah Attar Trend Scalper must plot green histogram bars.
- Enter a buy trade at the open of the next candle after both conditions align.
- Place a stop loss below the most recent swing low or a nearby support level.
- Set take profit at 2–3 times the stop loss distance or at the next resistance level.
Sell Entry Rules
- The FX Prime Trend Indicator line must be red (bearish trend).
- The Waddah Attar Trend Scalper must plot red histogram bars.
- Enter a sell trade at the open of the next candle after both conditions align.
- Place a stop loss above the most recent swing high or a nearby resistance level.
- Set take profit at 2–3 times the stop loss distance or at the next support level.
Advantages
- Combines a clean trend filter (FX Prime Trend) with a precise entry timing tool (Waddah Attar Trend Scalper).
- Reduces false entries during sideways markets by requiring dual confirmation.
- Works well on intraday timeframes like M5, M15, and M30.
- Beginner-friendly approach.
Drawbacks
- Signals may lag slightly in fast-moving markets.
- Sudden reversals after news can trigger stop losses.
- Requires discipline to wait for both indicators to confirm before entering trades.
Case Study 1: EUR/USD 15-Minute Chart
On the EUR/USD 15-minute chart, the FX Prime Trend Indicator showed a green line, signaling bullish conditions.
The Waddah Attar Trend Scalper plotted green histogram bars at 1.0750.
A buy trade was entered with a stop loss at 1.0725.
The price rose to 1.0800 over the next 3 hours, producing a 50-pip gain.
This example shows how the strategy can capture intraday upward trends.
Case Study 2: GBP/JPY 5-Minute Chart
On the GBP/JPY 5-minute chart, the FX Prime Trend Indicator turned red, indicating a bearish market.
The Waddah Attar Trend Scalper displayed red histogram bars at 183.40.
A sell order was placed with a stop loss at 183.70.
Within 25 minutes, the price fell to 182.80, locking in a 60-pip profit.
This case illustrates the potential for quick intraday profits during strong downtrends.
Strategy Tips
- Focus on major and volatile pairs for stronger intraday moves.
- Trade during the London and New York sessions for optimal momentum.
- Use trailing stops to lock in profits as the trend develops.
- Check for upcoming economic events to avoid whipsaws.
