The Forex Mass Index indicator for Metatrader 4 can be used for trade entries and exits and works for any currency pair and time frame.
It pops up as a blue line in the bottom window of the trading platform.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
For scalping, the Forex Mass Index indicator tends to produce the best results during the London and New York trading sessions.
Free Download
Download the “Mass index.mq4” indicator for MT4
Indicator Chart (EUR/USD Daily)
The example chart below displays the Forex Mass Index mt4 indicator in action.
After you downloaded and installed the indicator (mq4 or ex4 format) to the trading platform, it should look like the image as shown above.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Forex Mass Index 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: Oscillator
Does the indicator repaint? No.
