Forex Indicator PRO is a free MT4 (Metatrader 4) indicator that represents a winning buy & sell trading system with arrows.
The indicator pops up in the main MT4 chart window as green & red signal arrows.
The system is very easy to trade and makes sense. After each buy signal comes a sell signal.
Buy & Sell Trade Example
- A buy signal occurs whenever a green arrow pops up on the chart.
- A sell signal occurs whenever a red arrow pops up on the chart.
The Forex Indicator PRO 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 Indicator Pro.ex4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the Forex Indicator PRO 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 Indicator PRO 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: System
Does the indicator repaint? No.
MT4 Scalping Strategy: Forex Indicator Pro + Turbo JRSX
This scalping strategy combines the Forex Indicator Pro with the Turbo JRSX Indicator to provide precise intraday entries.
The Forex Indicator Pro displays arrows on the chart: green arrows signal bullish entries and red arrows signal bearish entries.
The Turbo JRSX adds trend confirmation in the subchart: a red line indicates bullish momentum, while a blue line (or a reversed color depending on your settings) indicates bearish momentum.
By combining both indicators, traders can filter out false signals and scalp high-probability trades on 1-minute, 5-minute, or 15-minute charts.
Buy Entry Rules
- A green arrow appears on the Forex Indicator Pro chart.
- The Turbo JRSX line in the subchart is red, confirming bullish momentum.
- Enter a buy trade at the close of the confirming candle.
- Place a stop loss a few pips below the recent swing low.
- Set take profit at the next minor resistance level or use a fixed pip target (e.g., 12–20 pips for scalping).
Sell Entry Rules
- A red arrow appears on the Forex Indicator Pro chart.
- The Turbo JRSX line in the subchart is blue, confirming bearish momentum.
- Enter a sell trade at the close of the confirming candle.
- Place a stop loss a few pips above the recent swing high.
- Set take profit at the next minor support level or a fixed pip target (e.g., 12–20 pips for scalping).
Advantages
- Combines clear signals with trend confirmation for higher probability trades.
- Works well for fast intraday scalping setups.
- Easy to monitor with arrows and colored lines, reducing guesswork.
- Flexible take profit options based on support/resistance or pip targets.
Drawbacks
- Signals require both arrow and subchart line alignment, which may reduce trade frequency.
- Less suitable for long-term trades or swing trading.
- Requires fast execution on lower timeframes.
Case Study 1: EUR/CHF on 5-Minute Chart
During the London session, a green arrow appeared on the Forex Indicator Pro chart while the Turbo JRSX line in the subchart was red, confirming bullish momentum.
A buy trade was entered at 1.0932.
The recent swing low was 1.0920, and the stop loss was placed at 1.0918 (14 pips risk).
The next minor resistance was at 1.0945, which was used as the take profit target.
Price moved upward and hit the target, giving 13 pips profit.
Case Study 2: GBP/JPY on 1-Minute Chart
During the New York session, a red arrow appeared on the Forex Indicator Pro chart while the Turbo JRSX line in the subchart was blue, confirming bearish momentum.
A sell trade was entered at 164.85.
The recent swing high was 164.95, and the stop loss was placed at 165.00 (15 pips risk).
The next minor support was at 164.70, which became the take profit target.
Price dropped quickly and reached the target, providing 15 pips profit.
Strategy Tips
- Use high-liquidity pairs to reduce spreads and slippage during scalping.
- Confirm that both the arrow and Turbo JRSX line align before entering a trade.
- Set take profit according to nearby support/resistance or fixed pip ranges for fast scalp exits.
- Use proper risk management and consistent position sizing for intraday trades.
Download Now
Download the “Forex Indicator Pro.ex4” indicator for Metatrader 4
