The Forex Goiler Signal indicator for MT4 is a complete trading system that provides the entry 1, entry 2, stop loss, and two take profit targets.
The indicator pops up in the main MT4 chart window and displays all aforementioned levels on the chart for ease of use.
Buy & Sell Trade Example
- A new buy position should be opened as soon as the Goiler indicator displays a new buy signal.
- A new sell position should be opened as soon as the Goiler indicator displays a new sell signal.
The Forex Goiler Signal indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors, and exotics) and shows promising results when used correctly.
Free Download
Download the “Forex_goiler.ex4” indicator for MT4
Indicator Chart (EUR/USD M5)
The example chart below displays the Forex Goiler Signal mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Forex Goiler Signal indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Trend system
Does the indicator repaint? No.
Forex Goiler Signal + 4 Time Frame Hull Trend MT4 Intraday Strategy
This MT4 intraday strategy merges the Forex Goiler Signal Indicator with the 4 Time Frame Hull Trend Indicator.
The Goiler Signal Indicator plots Entry 1 and Entry 2 levels along with a stop loss and two take profit levels.
The 4 Time Frame Hull Trend Indicator confirms the overall market direction: all four histogram bars are green for bullish trends and purple for bearish trends.
This combination helps traders filter out false signals and capture intraday moves more effectively.
Buy Entry Rules
- Wait for the Forex Goiler Signal Indicator to plot an Entry 1 or Entry 2 Buy level.
- Confirm that all four histogram bars of the 4 Time Frame Hull Trend Indicator are green, showing a bullish trend.
- Enter the buy trade at the Goiler Entry level.
- Use the stop loss level provided by the Goiler Signal Indicator.
- Take profit at the first Goiler take profit level for quick gains or the second level for extended intraday moves.
Sell Entry Rules
- Wait for the Forex Goiler Signal Indicator to plot an Entry 1 or Entry 2 Sell level.
- Confirm that all four histogram bars of the 4 Time Frame Hull Trend Indicator are purple, showing a bearish trend.
- Enter the sell trade at the Goiler Entry level.
- Use the stop loss level provided by the Goiler Signal Indicator.
- Take profit at the first Goiler take profit level for quick gains or the second level for extended intraday moves.
Advantages
- Combines precise entry and exit levels with trend confirmation.
- Reduces false signals by filtering trades through the Hull Trend Indicator.
- Provides predefined stop loss and two take profit levels for risk management.
- Flexible for both short intraday scalps and longer intraday trades.
Drawbacks
- Requires waiting for both indicators to align, which may reduce the number of trades.
- False signals can still occur during sudden news spikes.
- Stop losses can be hit in volatile markets even with trend confirmation.
- Small timeframes may produce too many signals; careful filtering is needed.
- Performance may vary depending on the currency pair’s volatility.
Example Case Studies
Case Study 1: EUR/USD M15 Buy
The Forex Goiler Signal Indicator plotted an Entry 1 Buy at 1.0870 with a stop loss at 1.0850 and two take profit levels at 1.0890 and 1.0910.
The 4 Time Frame Hull Trend Indicator showed all four histogram bars green, confirming a bullish trend.
Entered the buy trade at 1.0870.
The first take profit at 1.0890 (20 pips) was hit within 30 minutes, and the second target at 1.0910 (40 pips) was reached later in the session.
Case Study 2: GBP/USD M30 Sell
The Forex Goiler Signal Indicator plotted an Entry 2 Sell at 1.2735 with a stop loss at 1.2765 and two take profit levels at 1.2705 and 1.2680.
The 4 Time Frame Hull Trend Indicator showed all four histogram bars purple, confirming a bearish trend.
Entered the sell trade at 1.2735.
The first take profit at 1.2705 (30 pips) was hit within 40 minutes, and the second target at 1.2680 (55 pips) was reached before the London close.
Strategy Tips
- Trade during active sessions (London and New York) for stronger moves toward take profit levels.
- Use the first take profit level for fast scalps and the second for larger intraday targets.
- Always check the Hull Trend Indicator first to confirm the direction before taking the Goiler signal.
- Avoid trading around high-impact news releases to minimize false breakouts.
- Test the settings on a demo account before live trading to understand signal behavior.
