The Extreme Trend Explosion Forex indicator for Metatrader 4 delivers buy & sell signals with alerts for scalpers and day traders.
The indicator provides actual trade entry signals, along with exit signal alerts (alert exit long and alert exit short).
This scalping indicator tends to work best during the London and New York trading sessions on lower-spread currency pairs.
Key Points
- Scalping indicator
- Non-repaint
- Delivers entry & exit signals
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a short-term buy/sell entry confirmation tool.
Free Download
Download the “WAExplosion.ex4” MT4 indicator
Indicator Example Chart
The EUR/USD 15-minute chart below shows the Extreme Trend Explosion trading indicator in action.
Basic Trading Signals
Signals from the Extreme Trend Explosion Forex indicator for Metatrader 4 are easy to interpret and go as follows:
BUY:
- A buy signal is given when the histogram changes color from red to green (bullish trend).
- Place a stop loss below short-term support.
- Aim for 8-15 pips per trade profit or wait for the indicator to provide the exit buy signal.
SELL:
- A sell signal is given when the histogram changes color from green to red (bearish trend).
- Place a stop loss above short-term resistance.
- Aim for 8-15 pips per trade profit or wait for the indicator to provide the exit sell signal.
Download Now
Download the “WAExplosion.ex4” MT4 indicator
Smart Money Trend Explosion Strategy For MT4
This strategy combines the power of the Extreme Trend Explosion Forex Indicator for MT4 with the precision of the SMC Forex Market Insights Indicator for MT4.
It helps traders capture high-momentum moves that align with institutional order flow and market structure shifts.
Strategy Overview
- Timeframe: M30, H1, or H4
- Pairs: Major forex pairs (EUR/USD, GBP/USD, etc.)
- Indicators Used:
Extreme Trend Explosion,
SMC Forex Market Insights, and
Double Inside Bars Indicator (optional)
Buy Entry Rules
- Use the SMC Indicator to confirm a bullish CHoCH or BOS (break of structure) to the upside.
- Wait for a strong bullish signal (green arrow or explosion bar) from the Extreme Trend Explosion Indicator.
- Optional: Use the Double Inside Bars Indicator to identify consolidation before the breakout.
- Enter on the candle close. Stop-loss should be placed below the SMC-detected order block or the last swing low.
- Target 2:1 or 3:1 risk-reward based on recent market structure highs.
Sell Entry Rules
- Look for a bearish CHoCH or BOS confirmed by the SMC Indicator.
- Watch for a strong bearish signal (red arrow or explosion bar) on the Extreme Trend Explosion Indicator.
- Optional: Validate with a bearish breakout from the Double Inside Bars Indicator.
- Enter after the confirmation candle closes. Place your stop-loss above the recent high or SMC supply zone.
- Set take-profit using Fibonacci extensions or a 2:1 reward-to-risk ratio.
Strategy Tips
- Trade in the direction of the higher-timeframe trend identified by the SMC Indicator.
- Use the Extreme Trend Explosion signals only when they align with the SMC market structure.
- Filter trades during volatile news events unless volatility is part of your strategy.
Adjustable Parameters & Indicator Settings
Sensitivity, dead zone pip, explosion power, trend power, alert window, alert long, alert short, alert exit long, alert exit short
Feel free to explore the indicator’s different parameters and settings to create your personalized indicator setup.
Technical Information
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: scalping
How to install the Extreme Trend Explosion indicator in Metatrader 4?
- Copy and paste the WAExplosion.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)
