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Elder Impulse System Metatrader 4 Forex Indicator

    The Elder Impulse System Metatrader 4 forex indicator provides tradable price bars in a separate trading window.

    Scalpers and day traders will like this system.

    The Elder forex system is composed of a 13-period exponential moving average and MACD histogram.

    For the ease of use, the Elder system was transferred into a colored price bar histogram.

    It can be used across any timeframe of your choice but should be traded in agreement with the overall trend.

    Combine with a trend following indicator and trade in the direction of the prevailing trend.

    Ignore signals against the trend.

    Free Download

    Download the elder-impulse-system.mq4” MT4 indicator

    Example Chart

    The EUR/USD Hourly chart below displays the Elder Impulse System Forex Metatrader 4 indicator in action.

    Basic Trading Signals

    Signals from the Elder Impulse System MT4 forex indicator are easy to interpret and goes as follows:

    Buy Signal: Open buy trade when the prevailing trend is bullish and the Elder Impulse System draws a green price bar.

    Sell Signal: Open sell trade when the prevailing trend is bearish and the Elder Impulse System draws a red price bar.

    Blue bars: Stick with the current open position or wait for a new trade opportunity.

    Trade Exit: Close the open buy/sell forex position when an opposite signal occurs, or use your own method of trade exit.


    Download the elder-impulse-system.mq4” Metatrader 4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: Chart pattern indicator

    Customization options: Variable (Show Bars) Colors, width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: Signals


    Copy and paste the elder-impulse-system.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

    You can access this folder from the top menu as follows:

    File > Open Data Folder > MQL4 > Indicators (paste here)

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