About the Indicator
The Delta Signal Forex Indicator for MT4 is a free buy and sell technical oscillator designed to help traders extract more pips from the Forex market.
It appears in a separate MT4 chart window as an oscillator that swings back and forth above and below the neutral 0.00 level.
Trading Example
- Open a buy trade as soon as the oscillator crosses its 0.00 level bottom-up.
- Open a sell trade as soon as the oscillator crosses its 0.00 level top-down.
- Stop and reverse the position whenever an opposite signal appears on the chart.
Free Download
Download the “delta-indicator.ex4” indicator for MT4
Key Features
- Appears in a separate MT4 chart window as a technical oscillator.
- Oscillates above and below the neutral 0.00 level.
- Can be used for both entry and exit signals.
- Suitable for scalping, day trading, and swing trading strategies.
- Works equally well on all currency pairs.
- Free to download and easy to integrate into your MT4 platform.
Indicator Example Chart (EUR/USD H1)
In the example chart below, the Delta Signal indicator is shown as an oscillator that moves above and below the 0.00 level, providing visual cues for potential buy and sell opportunities.
How To Trade Using This Indicator
- Buy Signals: Enter a buy trade when the oscillator crosses above the 0.00 level, indicating upward momentum.
- Sell Signals: Enter a sell trade when the oscillator crosses below the 0.00 level, indicating downward momentum.
- Stop Loss: Place a stop loss just beyond the recent swing low for buy trades, or above the recent swing high for sell trades.
- Take Profit: Set a take profit target at the next significant support or resistance level, or use a fixed pip range based on your trading strategy.
Download Now
Download the “delta-indicator.ex4” indicator for Metatrader 4
Delta Signal + AG Renko Chart Forex Strategy
What This Strategy Is About
This strategy combines two effective indicators: the Delta Signal Forex Indicator and the AG Renko Chart MetaTrader 4 Forex Indicator.
The Delta Signal indicator helps identify momentum shifts by crossing above and below the zero line, signaling potential buy or sell points.
The AG Renko Chart indicator filters market noise and displays trend direction with clear blue (uptrend) and red (downtrend) lines.
Using these indicators together offers a reliable method for entering trades aligned with the current market momentum and trend.
Buy Rules
- Wait for the Delta Signal oscillator to cross above the 0.00 level, indicating bullish momentum.
- Confirm the AG Renko Chart indicator displays a blue line, signaling an uptrend.
- Enter a buy trade at the close of the confirming candle.
- Place your stop loss just below the recent swing low or a strong support level.
- Exit when the Delta Signal oscillator crosses back below 0.00 or the AG Renko Chart changes to a red line.
Sell Rules
- Wait for the Delta Signal oscillator to cross below the 0.00 level, indicating bearish momentum.
- Confirm the AG Renko Chart indicator displays a red line, signaling a downtrend.
- Enter a sell trade at the close of the confirming candle.
- Place your stop loss just above the recent swing high or a strong resistance level.
- Exit when the Delta Signal oscillator crosses back above 0.00 or the AG Renko Chart changes to a blue line.
Trader Case Studies
Here are three examples of traders from different countries who successfully used this strategy on various currency pairs and timeframes.
Isabella M – Italy
Isabella, a swing trader from Rome, applied this strategy on EUR/USD and GBP/USD for 30 days. Following the rules strictly, she netted a total of +286 pips during this time.
Jamal K – Kenya
Jamal, a part-time trader from Nairobi, used this method on EUR/USD and USD/JPY pairs for 40 days. His disciplined approach earned him +405 pips in profits.
Sophia L – Australia
Sophia, a day trader from Sydney, applied this strategy on AUD/USD, USD/CAD, and NZD/USD over two weeks, gaining a solid +190 pips in that period.
Disclaimer: These case studies are for educational purposes only. Trading results will vary depending on market conditions, risk management, and individual discipline.
Advantages
- Combines momentum and trend analysis for more accurate signals.
- Clear, easy-to-read indicators simplify trade decisions.
- Effective on multiple timeframes and currency pairs.
- Helps filter out false signals by requiring confirmation from two indicators.
Drawbacks
- May provide fewer signals in sideways or low volatility markets.
- Waiting for both indicators to align can delay entries.
- Exits might sometimes be late, relying solely on indicator reversals.
Strategy Conclusion and Tips
This combined strategy offers a reliable approach to trading by using momentum from the Delta Signal and trend filtering from the AG Renko Chart.
This improves your chances of trading with the prevailing market direction.
Always wait for confirmation from both indicators before entering a trade.
Use stop losses to protect your capital and avoid trading during major news events to reduce risk.
Practice extensively on a demo account to understand how the signals behave under real market conditions.
Indicator Specifications
| Specification | Details |
|---|---|
| Platform | MetaTrader 4 (MT4) |
| Type | Oscillator |
| Timeframes | All MT4 Timeframes |
| Currency Pairs | Major, Minor, and Exotic Pairs |
| Inputs | Variable (inputs tab), color settings & style |
| Signals | Buy/Sell Crossovers |
| Alerts | None |
Frequently Asked Questions (FAQ)
1. Can I combine the Delta Signal Indicator with other indicators?
Yes, combining it with trend filters like EMA200, Ichimoku, or momentum indicators like RSI can help confirm signals and reduce false entries.
2. What timeframes work best for this indicator?
The Delta Signal Indicator works on all timeframes, but M15, M30, and H1 are ideal for day trading. Lower timeframes can be used for scalping, but signals may be more frequent and less reliable.
3. How do I manage risk when using this indicator?
Always use proper risk management: set stop losses just beyond swing highs/lows, use 1–2% of your account per trade, and consider trailing stops to lock in profits during strong trends.
4. Can I use this indicator for multiple currency pairs simultaneously?
Yes, it is suitable for monitoring multiple pairs. To avoid missing signals, combine it with alert notifications or scan multiple charts on the same timeframe.
5. How can I increase the probability of successful trades?
Wait for the Delta Signal to align with higher timeframe trends and support/resistance zones. This combination improves accuracy and reduces false signals.
Final Words
The Delta Signal Forex Indicator for MT4 is a powerful tool for traders looking to capture precise buy and sell opportunities.
It excels when used in combination with trend filters, support and resistance levels, and momentum indicators to validate signals.
Traders who apply proper risk management, focus on higher probability setups, and monitor multiple timeframes can enhance overall performance and consistency.
With regular practice and disciplined execution, the Delta Signal Indicator can become an essential part of your trading strategy, helping you achieve more reliable results in both scalping and day trading scenarios.
