The Amka Signals indicator for the Metatrader 4 platform is a trend following signals indicator that is based on the AMA MT4 indicator.
This version works pretty well in predicting bullish and bearish currency markets.
Trading the Amka signal indicator is utterly easy:
- A buy signal occurs when a blue Amka dot appears on the activity chart
- A sell signal occurs when a red Amka dot appears on the activity chart
Amka can be used as a standalone signals indicator or together with other technical forex indicators.
For instance, you could combine it with MACD or Slow Stochastic.
All trading parameters can be fully modified from the Amka indicator inputs tab.
Free Download
Download the “amka-indicator.mq4” MT4 indicator
Indicator Chart (EUR/USD H1)
The EUR/USD 1-Hour chart below displays the Amka Signals Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Amka Signals MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Open buy trade when the Amka dot changes color from red to green (bullish trend reversal).
Sell Signal: Go short when the Amka dot changes color from green to red (bearish trend reversal).
Trade Exit: Close the open buy/sell trade when an opposite signal occurs, or use your own method of trade exit.
AMKA Signals + Support and Resistance Automated Lines MT4 Strategy
This MT4 strategy combines the AMKA Signals MT4 indicator and the Support and Resistance Automated Lines MT4 indicator.
The AMKA Signals indicator provides entry signals with red dots for bullish trades and blue dots for bearish trades.
The Support and Resistance Automated Lines indicator draws dynamic levels on the chart by connecting highs and lows.
Traders can use these levels to trade breakouts, entering buy trades when the price breaks resistance in an uptrend and sell trades when the price breaks support in a downtrend.
This strategy is ideal for M15 and H1 charts and works well on major and cross currency pairs.
Buy Entry Rules
- The AMKA Signals indicator displays a red dot, signaling a bullish trade.
- The price approaches or breaks above a resistance line on the Support and Resistance Automated Lines indicator.
- Enter a long trade immediately after the red dot appears and the breakout is confirmed.
- Place a stop loss a few pips below the nearest support level or below the breakout candle.
- Take profit at the next resistance line or use a 2:1 reward-to-risk ratio.
- Alternatively, trail stop while red dots continue appearing and the breakout trend remains bullish.
Sell Entry Rules
- The AMKA Signals indicator displays a blue dot, signaling a bearish trade.
- The price approaches or breaks below a support line on the Support and Resistance Automated Lines indicator.
- Enter a short trade immediately after the blue dot appears and the breakout is confirmed.
- Place a stop loss a few pips above the nearest resistance level or above the breakout candle.
- Take profit at the next support line or use a 2:1 reward-to-risk ratio.
- Alternatively, trail stop while blue dots continue and the breakout trend remains bearish.
Advantages
- Combines breakout strategy with precise entry signals for higher probability trades.
- Dynamic support and resistance levels automatically adjust to market swings.
- Works well on multiple currency pairs, including EURUSD, GBPUSD, USDJPY, and AUDUSD.
- Provides clear stop loss and take profit levels based on support and resistance lines.
- Suitable for both intraday and swing trading on M15 and H1 charts.
Drawbacks
- Stop losses may be hit if price briefly reverses after a breakout.
- Requires patience to wait for both the signal dot and breakout confirmation.
Example Case Study 1 (EURUSD M15 bullish breakout)
On EURUSD M15, the AMKA Signals indicator displayed a red dot at 1.1052.
The price broke above a resistance line at 1.1050 on the Support and Resistance Automated Lines indicator.
A buy trade was entered immediately.
Stop loss was placed at 1.1042, below the nearest support line.
Price moved to 1.1075, capturing 23 pips.
The trend continued upward, allowing an additional 15 pips with a trailing stop.
Example Case Study 2 (GBPUSD H1 bearish breakout)
On GBPUSD H1, the AMKA Signals indicator displayed a blue dot at 1.2655.
The price broke below a support line at 1.2660.
A short trade was entered immediately.
Stop loss was set at 1.2670, above the recent resistance.
Price fell to 1.2625, capturing 30 pips.
The breakout trend remained bearish, allowing an extra 12 pips profit using a trailing stop.
Strategy Tips
- Trade during active market hours to capture reliable breakouts.
- Only take trades when AMKA signal dots and support/resistance break align to improve accuracy.
- Monitor multiple pairs but avoid overtrading to maintain discipline.
- Use trailing stops to lock in profits as the breakout trend continues.
- Adjust stop loss based on volatility and the distance between support and resistance lines.
- Wait for the candle close above or below support/resistance lines to confirm breakout validity.
Download Now
Download the “amka-indicator.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (periodAMA, nfast, nslow, Pow, dK, applied price) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend
