The Brooky OBTR Forex Signals indicator for Metatrader 4 is an oscillator that provides easy-to-trade buy & sell signals in a bottom window.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
Buy & Sell Trade Example
- A green colored signal line is a buy signal.
- A red colored signal line is a sell signal.
For scalping and day trading, the indicator performs best during the London and New York trading sessions.
It can also be used as an additional signal indicator that works together with an existing trading strategy or system of your preference.
The indicator works equally well on all currency pairs (majors, minors, and exotic) and shows promising results if used correctly.
Free Download
Download the “OBTR.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Brooky OBTR Forex Signals 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 Brooky OBTR Forex Signals 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: Oscillator
Does the indicator repaint? No.
Brooky OBTR & SuperTrend MTF Forex Day Trading Strategy
This day‑trading strategy for MT4 combines the Brooky OBTR Forex Signals Indicator and the SuperTrend MTF Forex Signal Indicator.
The OBTR indicator uses a green signal line for buy opportunities and a red signal line for sell opportunities.
The SuperTrend MTF provides trend‑direction clarity via green lines for bullish trends and red lines for bearish trends.
When both indicators align, you enter a trade in the direction of the trend and the signal line.
This method is designed for major pairs like EUR/USD, GBP/USD, USD/JPY, and works on time frames such as M15 or H1 for day trading.
Buy Entry Rules
- Check that the SuperTrend MTF line is green, indicating a bullish trend.
- The OBTR indicator’s signal line turns green, signaling a buy opportunity.
- Enter a buy trade as soon as both conditions are confirmed.
- Place a stop loss a few pips below the most recent swing low or just under a recent OBTR signal low.
- Set take profit at a reasonable intraday target (for example, 20‑50 pips) or exit when the SuperTrend line turns red or OBTR turns red.
Sell Entry Rules
- Confirm the SuperTrend MTF line is red, showing a bearish trend.
- The OBTR signal line turns red, indicating a sell opportunity.
- Enter a sell trade once both conditions align.
- Place a stop loss a few pips above the most recent swing high or just above the recent OBTR signal high.
- Take profit around 20‑50 pips (depending on pair and session) or exit when SuperTrend flips green or OBTR flips green.
Advantages
- Combines trend confirmation (SuperTrend) with a dedicated signal line (OBTR) — reducing ambiguous entries.
- Logical stop‑loss placement based on recent structure and signal line helps with risk control.
- Day trading focus means you don’t hold trades overnight, and you can catch intraday swings on major pairs.
- Clear visual cues make it easier to monitor multiple charts and act when conditions align.
Drawbacks
- In ranging or low‑volatility markets, the SuperTrend line may flip often, and OBTR signals may generate false entries.
- Targets of 20‑50 pips may be modest in larger trending moves, which could reduce potential reward if you exit early.
- Because trades depend on two signals aligning, you may miss some opportunities when one indicator lags.
- You must pay attention throughout the day; this is not a set‑and‑forget approach and is somewhat time‑intensive.
- Spread and slippage during high‑impact news events may hurt profit potential or cause early stop‑outs.
Case Study 1 – EUR/USD H1 Chart
On the EUR/USD H1 chart during the London‑New York overlap, the SuperTrend MTF line turned green at 1.0800, indicating a bullish trend.
Shortly after, the OBTR signal line turned green at 1.0805.
A buy trade was entered at 1.0805 with a stop loss at 1.0778 (22 pips) and a target of 1.0850 (45 pips).
The price moved up steadily in line with the trend and reached the target in a few hours.
Case Study 2 – GBP/USD M15 Chart
On GBP/USD during the New York session, the SuperTrend line flipped red at 1.3720, showing a bearish trend.
The OBTR signal line turned red at 1.3715 shortly after.
A sell trade was entered at 1.3715 with a stop loss at 1.3742 (27 pips) and a take profit target of 1.3670 (45 pips).
The pair dropped steadily and exited profitably as trend continuation confirmed the move.
Strategy Tips
- Focus on major currency pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD for better liquidity and tighter spreads.
- Prefer trading during active sessions (London and New York) when intraday moves are stronger and trends are easier to follow.
- If the SuperTrend line is flat or repeatedly flipping, consider skipping signals — the market may be range‑bound.
- Avoid entering new trades just before major economic announcements, as trend direction may shift rapidly and false signals may occur.
