As the name implies, the Forex Next Candle Predictor indicator for mt4 (Metatrader) is a forecasting tool that predicts the next two candlesticks on the chart.
The indicator pops up in the main MT4 chart window as a candlestick chart with two forecasting blue candlesticks.
Buy & Sell Trade Example
- Open a buy trade if the two blue candlesticks are positioned higher than the current price.
- Open a sell trade if the two blue candlesticks are positioned lower than the current price.
The Forecast Moving Average indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “forex-candle-predictor.ex4” indicator for MT4
Indicator Example Chart (EUR/USD M5)
The example chart below displays the Forex Next Candle Predictor 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 Forex Next Candle Predictor 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: Forecasting
Does the indicator repaint? No.
Download Now
Download the “forex-candle-predictor.ex4” indicator for Metatrader 4
