BMI Long Forex Indicator (MT4)

About the BMI Long Forex Indicator

The BMI Long indicator for MT4 is a great signal indicator based on the MACD, Bollinger Bands, and Stochastics technical indicators.

The indicator appears in a separate MT4 chart window in the form of colored signal lines.

When all lines trade in agreement, this will result in either a buy or sell signal.

The BMI Long indicator is simple to use, even for newbie traders.

Key Takeaways

• The trend is considered bullish when all signal lines trade above the 0.00 neutral level.
• The trend is considered bearish when all signal lines trade below the 0.00 neutral level.
• Based on a mix of technical indicators.
• Keeps you out of range-bound currency markets.

The indicator works equally well on all assets (Forex, CFD stocks, Indices, Cryptocurrencies, Commodities,..) and shows promising results if used correctly.

Free Download

Download the “bmi-long.ex4” indicator for MT4

Indicator Example Chart (EUR/USD H1)

The example chart below displays the BMI Long indicator in action on the trading chart.

Trading Signals

• Buy signal: A buy signal occurs whenever all signal lines appear above the 0.00 level. The trend is now bullish.
• Sell signal: A sell signal occurs whenever all signal lines appear below the 0.00 level. The trend is now bearish.

As always, please trade in agreement with the overall trend and practice on a demo account first.

Utilize your own favorite stop loss and take profit method.

Download Now

Download the “bmi-long.ex4” indicator for Metatrader 4

BMI Long + Forex Gump Trend & Timing Strategy (MT4)

This strategy combines the directional clarity of the BMI Long Forex Indicator with the precise entry timing of the Forex Gump Indicator.

The synergy between both indicators helps reduce false signals and maximizes the probability of success in trending markets.

What Is This Strategy About?

The strategy works by first identifying trend direction using the BMI Long Indicator, which plots trend signals based on market momentum and higher timeframe alignment.

Once a clear trend is detected, the Forex Gump Indicator provides sharp entry points with visual buy/sell arrows and take-profit zones.

The combination helps traders ride bigger moves while keeping risk controlled with pre-defined logic.

Buy Trade Setup

Conditions:

• BMI Long displays an upward trend signal (all lines above the zero level), indicating a bullish trend is in place.
• Forex Gump prints a blue upward arrow, signaling a potential long entry.

Entry:

Enter a buy trade at the candle close where the Forex Gump arrow appears, provided the BMI Long trend remains green.

Stop Loss:

Place the stop-loss just below the recent swing low or use the dynamic stop level provided by Forex Gump.

Take Profit:

Use the Gump-projected TP zone or manually target 2x the risk for a favorable reward-to-risk ratio.

Sell Trade Setup

Conditions:

• BMI Long shows a downward trend signal (all lines above the zero level), confirming bearish momentum.
• Forex Gump prints a red downward arrow, confirming the timing to sell.

Entry:

Enter a sell trade at the close of the candle with the red Forex Gump arrow, provided BMI Long remains red.

Stop Loss:

Set your stop-loss just above the recent swing high or use Forex Gump’s auto stop zone.

Take Profit:

Target the take-profit zone provided by the Gump indicator or use a fixed 2:1 or 3:1 RR approach.

Case Study 1

NZD/USD M5 Chart Analysis (30-Day Sample Period):

• Total Signals: 28 trades
• Winning Trades: 18 (64.3%)
• Average Win: +26 pips
• Average Loss: -12 pips
• Net Result: +348 pips over the testing period

Case Study 2

USD/CAD M5 Chart Analysis (25-Day Sample Period):

• Total Signals: 32 trades
• Winning Trades: 20 (62.5%)
• Average Win: +30 pips
• Average Loss: -14 pips
• Net Result: +443 pips over the testing period

Advantages

• Combines trend detection with pinpoint entries for high-probability trades.
• Visually easy to follow and ideal for beginners and advanced traders alike.
• Works well on trending pairs and during active sessions (London/NY).
• Adaptable across timeframes from M15 to H4.

Drawbacks

• May generate false signals in choppy or range-bound markets.
• Requires discipline to wait for both indicator confirmations.
• Performance may vary depending on volatility and session timing.

Strategy Conclusion

Using the BMI Long Indicator to establish a trend and the Forex Gump Indicator for precise entries creates a reliable and repeatable trading method.

When applied with proper money management and in favorable market conditions, this combo can deliver solid results with clarity and consistency.

Indicator Specifications

Final Words

The BMI Long Forex Indicator is an excellent choice for traders who want clean, reliable trend signals with minimal complexity.