The Forex Market Profile Trend Lines indicator for Metatrader 4 provides powerful market insights in both trending and sideways moving markets.
The indicator appears in the main trading chart as an array of colored blue bars and trend lines.
The gray colored trend lines can be used for long and short trade entries.
Key Points
- Works for any currency pair.
- Might help for trade entries and exits.
- Non-repaint indicator.
Free Download
Download the “marketprofile-trend-lines-indicator.ex4” MT4 indicator
Indicator Example Chart
The EUR/USD 15-minute chart below shows the Forex Market Profile Trend Lines indicator in action.
Basic Trading Signals
Signals from the Forex Market Profile Trend Lines indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- A buy trade occurs when price closes above the upper gray trend line.
- Place a stop loss just below most recent support.
- Close the buy trade near previous resistance, or utilize your own trade profit strategy.
SELL:
- A sell trade occurs when price closes below the lower gray trend line.
- Place a stop loss just above most recent resistance.
- Close the sell trade near previous support, or utilize your own trade profit strategy.
Download This Forex Indicator
Download the “marketprofile-trend-lines-indicator.ex4” MT4 indicator
Adjustable Parameters & Settings
Look back, profile, daily profile data, tick size, 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: Market analysis
How to install the Forex Market Profile Trend Lines indicator in Metatrader 4?
- Copy and paste the marketprofile-trend-lines-indicator.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