About the BTF Source Daily Signal Indicator
The BTF Source Daily Signal indicator for Metatrader 4 can be categorized as a price action breakout indicator that works with daily levels.
The indicator can be used in multiple ways and appears in the main trading chart.
Buy & sell trade idea
- Open a buy when the price closes above the blue buy breakout line from below.
- Open a sell when the price closes below the gray sell breakout line from above.
Free Download
Download the “btf-source.mq4” indicator for MT4
Indicator Example Chart (EUR/USD H1)
The example chart below displays the BTF Source Daily Signal MT4 indicator in action on the trading chart.
Trading Tips
Utilize your favorite trade entry, stop loss, and take profit method to trade with the BTF Source Daily Signal technical indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Download Now
Download the “btf-source.mq4” indicator for Metatrader 4
BTF Source Daily Signal + DL Trix Forex Strategy (MT4)
This powerful trading strategy combines two reliable MT4 indicators: the BTF Source Daily Signal Indicator and the DL Trix Forex Indicator.
The BTF Source Daily Signal helps determine trend direction and potential turning points based on daily price strength, while the DL Trix provides precise momentum-based confirmation using smoothed TRIX histogram crossovers.
Together, they form a reliable high-probability setup suitable for trend trading across multiple timeframes.
What Is This Strategy About?
This strategy aims to identify strong trend entries using the alignment of daily-level signals from the BTF Source Daily Signal Indicator with the real-time momentum confirmation of the DL Trix histogram.
The goal is to filter out noise and false signals, improving win accuracy by trading only in the direction of dominant trend momentum.
Buy Rules
- Wait for the price to close above the blue BTF Source Daily Signal Indicator line.
- The DL Trix histogram blue line crosses above the red line.
- Enter a long (buy) position when both conditions are met on the selected timeframe.
- Place the stop loss just below the most recent swing low or 1.5x ATR(14).
- Target 2x to 3x risk, or exit when the DL Trix histogram gives a sell signal.
Sell Rules
- Wait for the price to close below the gray BTF Source Daily Signal Indicator line.
- The DL Trix histogram red line crosses above the blue line.
- Enter a short (sell) trade when both signals align on the selected timeframe.
- Place the stop loss just above the most recent swing high or 1.5x ATR(14).
- Target 2x to 3x the risk or close the trade when the DL Trix histogram gives a buy signal.
Case Study 1
USD/JPY H1 Chart Analysis (60-Day Sample Period):
- Total Signals: 46 trades
- Winning Trades: 31 (67.4%)
- Average Win: +46 pips
- Average Loss: -21 pips
- Net Result: +1111 pips over the testing period
Case Study 2
GBP/AUD H4 Chart Analysis (75-Day Sample Period):
- Total Signals: 22 trades
- Winning Trades: 15 (68.2%)
- Average Win: +95 pips
- Average Loss: -38 pips
- Net Result: +1159 pips over the testing period
Advantages
- Filters false breakouts using dual confirmation from two time perspectives.
- Ideal for swing traders and intraday traders looking for trend alignment.
- Easy to visually interpret with clear signal arrows and a color-coded histogram.
- Works well on trending pairs like GBP/JPY, USD/CAD, EUR/AUD, etc.
Drawbacks
- May lag slightly in fast reversal zones due to the confirmation requirement.
- Not ideal for extremely choppy markets or flat consolidations.
- Requires attention to higher-timeframe signals before execution on lower timeframes.
Strategy Conclusion and Tips
The BTF Source Daily Signal and DL Trix indicator combo strategy is a strong toolset for traders who seek trend-following setups with strong confirmation filters.
For best results, avoid ranging markets, trade only during active sessions (London/New York), and never skip backtesting with your preferred currency pairs.
Adjust stop loss and take profit according to volatility using tools like ATR or recent price swings.
Indicator Specifications
| Indicator Name | BTF Source Daily Signal |
|---|---|
| Platform | MetaTrader 4 (MT4) |
| Timeframes | All Timeframes (Best: M15–H1) |
| Markets | Forex, Indices, Commodities, Crypto |
| Indicator Type | Directional Signal with Arrows (Daily Bias) |
| Inputs |
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FAQ Section
Does this indicator work during the Asian session?
Yes, but signals are based on daily momentum, which typically gains strength during the London and New York sessions.
Can I use this with other systems?
Definitely. It works great with moving averages, price action setups, or breakout systems as a directional filter.
Is the signal repainted or delayed?
No, the signals do not repaint. Once a daily arrow appears, it stays fixed for the session.
Final Words
The BTF Source Daily Signal Indicator is perfect for traders who want clear, reliable guidance on market direction without overloading their charts. Download it free now and align your trades with the dominant trend.
