The Cougar Forex indicator for Metatrader 4 takes advantage of rapid changes in short-term trends and plots the accompanying buy/sell arrows on the chart.
The indicator works best for scalpers and day traders when combined with a longer-term moving average.
The Cougar FX indicator is beginner-friendly and does not repaint its signals.
Key Points
- Good for scalping any pair
- Good for day trading any pair
- Does not repaint any signals
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system.
Free Download
Download the “CougarTr1.ex4” MT4 indicator
Example Chart
The AUD/USD 1-hour chart below shows the Cougar Forex indicator in action.
Basic Trading Signals
BUY:
- Open a buy trade when the blue colored signal arrow appears on the chart.
- Place a stop loss below short-term support.
- Exit the buy trade for a predetermined profit target.
SELL:
- Open a sell trade when the red colored signal arrow appears on the chart.
- Place a stop loss above short-term resistance.
- Exit the sell trade for a predetermined profit target.
Download Now
Download the “CougarTr1.ex4” MT4 indicator
Enhanced Trading Strategy: Combining Cougar Forex Indicator with CCI NUF V4 Signals
Overview
To improve the reliability of trade signals, this strategy integrates the Cougar Forex Indicator with the CCI NUF V4 Forex Signals Indicator.
While the Cougar Indicator identifies rapid short-term trend changes with buy/sell arrows, the CCI NUF V4 provides trend-following confirmations through its histogram, helping to filter out false signals.
Required Indicators
- Cougar Forex Indicator: Plots buy (blue) and sell (red) arrows on the chart based on rapid short-term trend changes.
- CCI NUF V4 Forex Signals Indicator: Displays a histogram in a separate window, indicating bullish or bearish momentum when crossing above or below the 0.00 level.
Trading Rules
Buy Setup
- Wait for the Cougar Indicator to display a blue buy arrow on the chart.
- Confirm that the CCI NUF V4 histogram has crossed above the 0.00 level, indicating bullish momentum.
- If both conditions are met, enter a long position.
- Place a stop loss below the recent swing low or short-term support level.
- Set a take profit target based on a risk-to-reward ratio of at least 1:2 or exit when the CCI NUF V4 histogram crosses below 0.00.
Sell Setup
- Wait for the Cougar Indicator to display a red sell arrow on the chart.
- Confirm that the CCI NUF V4 histogram has crossed below the 0.00 level, indicating bearish momentum.
- If both conditions are met, enter a short position.
- Place a stop loss above the recent swing high or short-term resistance level.
- Set a take profit target based on a risk-to-reward ratio of at least 1:2 or exit when the CCI NUF V4 histogram crosses above 0.00.
Tips for Implementation
- Apply this strategy on time frames of 15 minutes or higher to reduce market noise.
- Use additional tools like support and resistance levels to identify optimal entry and exit points.
- Always test the strategy on a demo account before applying it to live trading.
Strategy Conclusion
By combining the Cougar Forex Indicator’s rapid trend change signals with the CCI NUF V4’s trend-following confirmations, traders can enhance the accuracy of their entries and exits. This integrated approach aims to provide more reliable trading opportunities in various market conditions.
Technical Parameters & Settings
Alert pop-up, size, colors, and style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: scalper
How to install the Cougar indicator in Metatrader 4?
- Copy and paste the CougarTr1.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
