The Market Cycles V1 Forex indicator is a buy/sell technical tool that provides great entries and exits when scalping the market.
The indicator appears in a bottom chart of the trading platform and consists of 3 moving average bands with different settings and periods.
The indicator works best in ranging currency markets and can give you multiple trade entries and exits every day.
Key Points
- Works well for scalpers.
- Short-term prediction tool.
- Works best in ranging markets.
- Aim for 5-15 pips profit per trade.
Free Download
Download the “Market Cycles V1.ex4” MT4 indicator
Indicator Example Chart
The EUR/USD 30-minute chart below shows the Market Cycles V1 Forex indicator in action.
Basic Trading Signals
Signals from the Market Cycles V1 indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- A buy trade occurs when all market cycles are colored green.
- Place a stop loss 1-3 pips below short-term support or utilize your own stop loss method.
- Close the buy trade for 5-15 pips profit.
SELL:
- A sell trade occurs when all market cycles are colored red.
- Place a stop loss 2-3 pips above short-term resistance or apply your own stop loss method.
- Close the sell trade for 5-15 pips profit.
Download This Forex Indicator
Download the “Market Cycles V1.ex4” MT4 indicator
Adjustable Parameters & Settings
Cycle 1, cycle 2, cycle 3, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Trend analysis
How to install the Forex Market Cycles V1 indicator in Metatrader 4?
- Copy and paste the Market Cycles V1.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)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button