About the Do Not Trade Forex Indicator
Do Not Trade Forex is a free MT4 (Metatrader 4) signals indicator that indicates when to trade and when to stay out of the market.
The indicator analyzes the chart and alerts you when a new trade opportunity arises, whether it’s a buy or a sell.
Key Features & Core Functions
- Clear trading signals for BUY and SELL when conditions are met.
- Market-safety filter: highlights “do not trade” zones when volatility or noise is unfavorable.
- Works on any currency pair, gold, and most indices available in MT4 brokers.
- Fully customizable inputs so you can tune sensitivity to your trading timeframe.
- Non-repainting alerts — signals are fixed once the candle closes.
Free Download
Download the “do-not-trade-indicator.mq4” indicator for MT4
Why Traders Use It: Benefits
- Better discipline: the “do not trade” filter prevents entering during chop and reduces impulsive losses.
- Faster decisions: visual signals enable you to act quickly without requiring extensive analysis.
- Versatility: suitable for scalping, day trading, and swing setups depending on the timeframe.
- Beginner-friendly: straightforward rules that reduce confusion for new traders.
Indicator Chart (EUR/USD Daily)
The example chart below showcases the Do Not Trade indicator in action on the trading chart.
Buy & Sell Signal Rules
Buy Rules (Enter Long)
- Wait for the buy signal to print at the close of the signal candle.
- Set the Stop Loss below the recent swing low.
- Scale out at logical resistance zones.
Sell Rules (Enter Short)
- Wait for the sell signal to print at candle close.
- Place the Stop Loss above the recent swing high.
- Scale out at logical support zones.
Detrended Synthetic Price GO Oscillator & Do Not Trade Indicator MT4 Strategy
This strategy integrates the Detrended Synthetic Price GO Oscillator and the Do Not Trade Indicator for MetaTrader 4 (MT4).
It aims to provide traders with clear entry and exit signals while avoiding unfavorable market conditions.
Suitable for both novice and experienced traders, this approach works across various timeframes, particularly the M15 to H1 charts.
Buy Entry Rules
- Entry Signal: Enter a buy trade when the Detrended Synthetic Price GO Oscillator crosses above the zero line, indicating a potential upward trend.
- Confirmation: Wait for a buy signal from the Do Not Trade Indicator.
- Stop Loss: Set the stop loss below the most recent swing low to manage risk effectively.
- Take Profit: Aim for a risk-to-reward ratio of at least 1:2, adjusting the take profit level accordingly.
Sell Entry Rules
- Entry Signal: Enter a sell trade when the Detrended Synthetic Price GO Oscillator crosses below the zero line, suggesting a potential downward trend.
- Confirmation: Wait for a sell signal from the Do Not Trade Indicator.
- Stop Loss: Place the stop loss above the most recent swing high to mitigate potential losses.
- Take Profit: Target a risk-to-reward ratio of at least 1:2, adjusting the take profit level as needed.
Advantages
- Clear Entry and Exit Signals: The combination of indicators provides distinct buy and sell signals, aiding in decision-making.
- Market Condition Awareness: The Do Not Trade Indicator helps avoid trading during unfavorable market conditions.
- Adaptability: Suitable for various timeframes, allowing traders to choose their preferred trading style.
Drawbacks
- Potential Lag: As with many indicators, there may be a slight delay in signal generation.
- False Signals: In highly volatile or sideways markets, indicators may produce false signals.
- Requires Monitoring: Continuous observation is necessary to ensure timely entries and exits.
Example Case Study 1
On a 30-minute EUR/USD chart, the Detrended Synthetic Price GO Oscillator crossed above the zero line, signaling a potential buy.
Simultaneously, the Do Not Trade Indicator displayed a buy signal in the upper right chart corner.
A buy order was placed with a stop loss below the recent swing low and a take profit set at twice the risk distance.
The trade was successful, achieving the target profit.
Example Case Study 2
On a 1-hour GBP/USD chart, the Detrended Synthetic Price GO Oscillator crossed below the zero line, indicating a potential sell.
The Do Not Trade Indicator showed a sell signal in the upper right chart corner.
A sell order was executed with a stop loss above the recent swing high and a take profit set at twice the risk distance.
The trade reached the take-profit level, resulting in a profitable outcome.
Strategy Tips
- Adjust Timeframes: Experiment with different timeframes to find the optimal settings for your trading style.
- Risk Management: Always use appropriate risk management techniques, such as setting stop losses and adjusting position sizes.
Download Now
Download the “do-not-trade-indicator.mq4” indicator for Metatrader 4
Indicator Specifications
| Platform | MetaTrader 4 (MT4) |
| Timeframes | All (recommended M15, H1, H4) |
| Assets | Forex pairs, XAU/USD, and most indices |
| File type | .ex4 |
| Inputs | Sensitivity, SL/TP display, do-not-trade threshold, alerts on/off |
FAQ
Does this indicator repaint?
No. Once an entry signal appears, it remains fixed, ensuring consistency when reviewing or backtesting setups.
Can I use it for scalping?
Yes — this tool is purpose-built for scalping, especially effective in sessions with high activity like London or New York.
What’s the best way to confirm signals?
Consider adding fast EMAs or using RSI/MACD to validate direction before entering, which helps filter false moves.
Is it suitable for all pairs?
Yes — it works well across Forex pairs. Just keep in mind that high-volatility pairs may require wider stop levels.
Summary
The Do Not Trade Forex Indicator for MT4 is available as a free download.
It is designed as a practical decision-support tool that helps traders identify better entries, avoid poor or choppy market conditions, and maintain stronger risk discipline.
By filtering out low-quality setups, the indicator can save time and reduce unnecessary losses.
While it is simple to use, combining it with additional confirmation tools such as EMAs or RSI can further improve accuracy.
As with any trading system, results may vary depending on the market, broker, and personal strategy.
Always test new tools on a demo account first and fine-tune the settings to fit your trading style and chosen timeframe.
