The Cycle Identifier Signals MT4 indicator draws buy/sell price action filtered forex signals on the Metatrader 4 chart.
The technical indicator consists of the following components: SMA, RSI and a price action filter.
Signals from the indicator are easy to discover:
- A green cycle bar positioned below the 0.00 level represents a buy signal
- A red cycle bar positioned above the 0.00 level represents a sell signal
The price action component filters out most false signals.
The Cycle Identifier Signals MT4 indicator can be used as a standalone signals indicator or in conjunction with other analysis tools.
For instance, combine with a 200 period simple moving average or 100 period exponential moving average.
All indicator settings can be changed from the indicator’s inputs menu.
Use the Cycle Identifier Signals indicator for scalping (M1), intraday trading (M5, M15) and swing trading purposes (H1, H4, D1).
Free Download
Download the “cycle-identifier.mq4” MT4 indicator
Indicator Chart (EUR/USD M15)
The EUR/USD 15-Minute chart below displays the Cycle Identifier Signals Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Cycle Identifier Signals MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Buy the currency pair when the Cycle Identifier Signals indicator displays a green bar below the zero level.
Sell Signal: Sell the currency pair when the Cycle Identifier Signals indicator displays a red bar above the zero level.
Trade Exit: Use your own method of trade exit.
Cycle Identifier + CCI MTF Signals Forex Strategy for MT4
This strategy combines the cycle detection of the Cycle Identifier Signals MT4 Indicator with trend confirmation from the CCI MTF Signals MT4 Indicator.
The Cycle Identifier displays green bars below the 0.00 level as buy signals and red bars above the 0.00 level as sell signals.
The CCI MTF Signals indicator confirms the overall trend with histogram bars above 0 indicating a buy trend and below 0 indicating a sell trend.
This combination allows traders to enter trades with momentum and trend alignment for higher probability setups.
The strategy works well on M15 and H1 charts.
Trades are taken only when both indicators align, ensuring that entries are supported by cycle momentum and overall trend direction.
Buy Entry Rules
- Cycle Identifier shows a green bar below the 0.00 level.
- CCI MTF histogram is above 0, confirming a buy trend.
- Enter a buy trade at the close of the signal candle or the next candle open.
- Place a stop loss below the recent swing low or support area.
- Take profit at the next swing high or exit when the Cycle Identifier turns red or the CCI MTF histogram falls below 0.
Sell Entry Rules
- Cycle Identifier shows a red bar above the 0.00 level.
- CCI MTF histogram is below 0, confirming a sell trend.
- Enter a sell trade at the close of the signal candle or the next candle open.
- Place a stop loss above the recent swing high or resistance area.
- Take profit at the next swing low or exit when the Cycle Identifier turns green or the CCI MTF histogram rises above 0.
Advantages
- Combining cycle signals with trend confirmation reduces the likelihood of false entries.
- Indicators provide clear and objective trade signals, making it easier to follow a systematic approach.
- Works on multiple timeframes, giving flexibility for both intraday and swing trading.
- Helps identify momentum shifts early, allowing timely entries and exits.
- Stop loss and take profit levels are easy to determine based on recent price action.
- Can be applied to a variety of currency pairs, increasing trade opportunities.
Drawbacks
- Requires careful monitoring, as rapid price movements can trigger stop losses quickly.
- Signals may lag slightly during fast-moving trends, reducing profit potential.
- Not suitable for very short-term scalping unless combined with additional timing filters.
Case Study 1 – Buy Trade on AUDNZD M15
During the London session, the Cycle Identifier showed a green bar below 0.00, and the CCI MTF histogram was above 0.
A buy trade was entered at 1.0850 with a stop loss at 1.0830.
Price moved upward to 1.0890, and the trade was closed for a profit of 40 pips when the Cycle Identifier turned red.
Case Study 2 – Sell Trade on USDCAD H1
On USDCAD H1, the Cycle Identifier showed a red bar above 0.00 while the CCI MTF histogram was below 0.
A sell trade was opened at 1.3350 with a stop loss at 1.3380.
Price dropped to 1.3285 before the Cycle Identifier signaled green, resulting in a gain of 65 pips.
Strategy Tips
- Trade only when both indicators confirm the same direction to improve probability of success.
- Focus on currency pairs with clear trends rather than choppy or range-bound markets.
- Use higher timeframes like H1 for more reliable trend signals and lower timeframes like M15 for faster setups.
- Adjust stop loss levels according to recent swing highs or lows to minimize risk.
- Monitor market volatility and avoid trading during major news events to reduce unexpected reversals.
- Consider partial profit-taking if price approaches strong support or resistance levels.
- Keep a trading journal to review how the indicators perform on different pairs and timeframes.
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Download the “cycle-identifier.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (price action filter, RSI strength filter, SMA strength filter, cycle filter) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: strength oscillator
