Chart Angles V3 Forex Indicator (MT4)

About the Chart Angles V3 Indicator

The Chart Angles V3 Forex Indicator for MetaTrader 4 is a unique momentum and trend strength oscillator that uses colorful “rainbow” visuals to help traders identify buy and sell signals easily.

Designed primarily for scalpers and day traders, it provides quick, intuitive insights into market direction and momentum shifts across multiple timeframes.

Key Features

• Color-coded rainbow oscillator for easy visual interpretation.
• Generates clear buy and sell signals to assist quick decision-making.
• Works on all major currency pairs and timeframes, especially effective on M1 to H1 charts.
• Customizable input parameters for sensitivity and signal filtering.

Key Points

• The trend is considered upwards when the rainbow crosses the 0.00 level bottom-up.
• The trend is considered downwards when the rainbow crosses the 0.00 level top-down.

The Chart Angles V3 indicator can be used for both entry and exit signals or to confirm buy & sell trade setups issued by your favorite trading systems or strategies.

Free Download

Download the “chart-angles-v3-indicator.ex4” indicator for MT4

Benefits of Using the Indicator

• Improves entry timing by clearly showing momentum shifts.
• Reduces noise and false signals through advanced filtering.
• Helps scalpers and day traders identify quick market opportunities.
• Easy-to-understand visual signals speed up trade decisions.

Indicator Example Chart (EUR/USD H1)

Below is an example of the Chart Angles V3 Indicator applied on an EUR/USD H1 chart, demonstrating clear buy and sell signals with the colorful oscillator.

How To Trade Using This Indicator

Entry for Buy

• Wait for the oscillator to cross back above the zero level.
• Confirm with a bullish price action candle or pattern.
• Enter the trade at candle close when the buy signal appears.

Entry for Sell

• Look for the oscillator to shift back below the zero level.
• Confirm with a bearish price action candle or pattern.
• Enter the trade at candle close on the sell signal.

Stop Loss and Take Profit

• Stop Loss: Place below the recent swing low for buy trades and above the recent swing high for sell trades.
• Take Profit: Target at key support/resistance levels or set a fixed risk:reward ratio (e.g., 1:2 or 1:3).
• Consider trailing stops to lock in profits during strong trends.

Download Now

Download the “chart-angles-v3-indicator.ex4” indicator for Metatrader 4

Chart Angles V3 & XP Moving Average Strategy: Precision Trend MT4 Trading

This strategy combines the Chart Angles V3 Forex Indicator with the XP Moving Average Indicator to identify high-probability trading opportunities.

The Chart Angles V3 shows dynamic trend angles, while the XP Moving Average smooths signals for clear trend direction.

Together, they guide smarter trades.

Buy and Sell Rules

Buy Setup

• Wait for the Chart Angles V3 indicator to display a bullish angle above 0 (positive slope).
• Ensure the XP Moving Average is green in color.
• Enter a buy trade at the close of the confirmation candle.
• Place a stop loss below the recent swing low.
• Set take profit at a risk-reward ratio of 1:2 or near the next significant resistance level.

Sell Setup

• Wait for the Chart Angles V3 indicator to display a bearish angle below 0 (negative slope).
• Ensure the XP Moving Average is red.
• Enter a sell trade at the close of the confirmation candle.
• Place a stop loss above the recent swing high.
• Set take profit at a risk-reward ratio of 1:2 or near the next significant support level.

Trader Case Studies

Below are examples of traders who applied this strategy to different currency pairs and timeframes, demonstrating its effectiveness in various market conditions.

Disclaimer: These case studies are for educational purposes only. Trading results will vary depending on market conditions, risk management, and individual discipline.

Advantages of This Strategy

• Combines angle-based trend analysis with a smoothed moving average, enhancing trade accuracy.
• Suitable for various timeframes and currency pairs.
• Helps in identifying optimal entry and exit points.
• Reduces false signals by aligning two reliable indicators.

Drawbacks and Considerations

• Requires discipline to wait for both indicators to confirm before entering trades.
• May underperform in highly volatile or sideways markets.
• Effective risk management is essential to protect capital.
• May require frequent monitoring depending on the chosen timeframe.

Strategy Conclusion and Tips

This combined strategy offers a robust approach to trading by integrating angle-based trend analysis with a smoothed moving average.

Traders should ensure both indicators align before entering trades to maximize success.

Proper stop loss and take profit settings tailored to market conditions are crucial for risk control.

Practice on demo accounts is recommended to build confidence and adjust settings before live trading.

Indicator Specifications

FAQ

Q: Can I use this indicator for automated trading?

A: This indicator is designed primarily for manual trading and visual signal interpretation. Automation would require integration with an EA that supports its signals.

Q: Which currency pairs and timeframes are best?

A: It works best on major forex pairs and lower timeframes from M1 to H1, ideal for scalping and intraday setups.

Q: How can I reduce false signals?

A: Combine Chart Angles V3 signals with price action confirmation and avoid trading during low volatility or news events.

Final Words

The Chart Angles V3 Forex Indicator for MT4 offers a colorful and intuitive way to spot momentum shifts and trend strength, making it a valuable tool for scalpers and day traders.

Download the free indicator with strategy today and improve your trading precision.