Forex Momentum Winner Indicator (MT4)

About the Indicator

The Forex Momentum Winner Indicator for MT4 displays momentum strength using a red-colored line.

It helps traders quickly identify bullish or bearish trends and potential reversals across any currency pair or timeframe.

Key Features

• Colored momentum signal line
• Oscillator format, usable on all Forex pairs and timeframes
• No repaint, clear momentum display
• Capable of highlighting overbought/oversold and divergence conditions

How It Works

The indicator plots histogram bars oscillating around a midline (e.g., zero or 100).

When bars cross a defined threshold or show divergence with price, these signal entry or exit setups.

Free Download

Download the “anything-indicator.mq4” indicator for MT4

Benefits of Using This Indicator

• Simplifies trend strength analysis visually
• Highlights momentum shifts early for timely entry
• Allows filtering choppy markets by focusing on strong momentum
• Supports objective entry and exit decisions

Indicator Example Chart (EUR/USD Daily)

How To Trade Using This Indicator

Entry Point

• Buy: When bars cross above the midline, indicating rising bullish momentum
• Sell: When bars turn cross below midline, signaling downward momentum

Stop Loss

• Set Stop Loss just below the recent swing low for long trades
• Place a Stop Loss just above the recent swing high for short trades

Take Profit

• Use a fixed risk‑reward ratio (e.g., 1:2)
• Or exit when momentum weakens (bars fade to dark/red‑green)
• Combine with nearby support/resistance or moving averages

Download Now

Download the “anything-indicator.mq4” indicator for Metatrader 4

Momentum + Wavy Dash Forex Strategy for MT4

This strategy blends the strength of the Forex Momentum Winner Indicator with the signal precision of the Wavy Dash Forex Signals Indicator.

It’s designed to catch explosive momentum-based moves in the direction of the prevailing trend.

While the Momentum Winner detects the strength and sustainability of market impulses, Wavy Dash adds a confirmation layer through filtered buy/sell signals based on price action behavior.

What Is This Strategy About?

This is a trend-following strategy with momentum-based confirmation.

The idea is to enter only when the market shows both directional pressure and confirmed intent to move, using the Wavy Dash signals as precise triggers.

The combination reduces premature entries and increases the reliability of each trade setup. Best used on the M15 or H1 charts, it works well during London and New York sessions.

Buy Rules

• Wait for the Momentum Winner Indicator to turn green or show a strong bullish reading (above the midpoint line).
• Then wait for the Wavy Dash Indicator to print a fresh buy signal.
• Enter a buy trade at the open of the next candle after both confirmations appear.
• Place a stop loss below the most recent swing low or Wavy Dash level.
• Set take profit based on 1:2 risk-reward or when the Momentum Winner shows weakening strength (e.g., color fade).

Sell Rules

• Wait for the Momentum Winner to turn red or indicate strong bearish momentum.
• Then wait for a valid sell signal from the Wavy Dash Forex Signals Indicator.
• Enter the sell trade at the next candle open after both indicators agree.
• Set stop loss above the most recent swing high.
• Exit at a fixed risk-reward target or when the momentum indicator begins to fade or reverse.

Advantages

• Momentum-based filtering: Trades are only entered when the market has real force behind the move.
• Clear visual signals: Both indicators give intuitive visual feedback, reducing guesswork.
• Scalping and intraday compatible: Performs well on short- and mid-term timeframes.
• Good entry timing: The Wavy Dash signal often occurs just before a strong candle follow-through.

Drawbacks

• Choppy markets: Avoid trading during sideways or low volatility conditions as signals may become mixed.
• Lag on confirmation: Waiting for both indicators can sometimes lead to slightly late entries.
• Needs trending context: Strategy performs best when the market is already in motion—avoid use during major news releases.

Tips

The combination of the Forex Momentum Winner Indicator and the Wavy Dash Forex Signals Indicator offers a powerful, momentum-filtered trading system that enhances entry precision and trend alignment.

It’s ideal for traders looking to capture the meat of market moves without getting trapped in false starts.

For maximum effectiveness, apply during active trading hours with moderate-to-high volatility.

Examples, Back‑Test, Pros & Cons

In trending environments (e.g., EUR/USD H1), this indicator has shown reliable signal patterns when momentum remains strong.

During sideways markets, signals may mislead—so combining with trend filters like MA is advised.

• Pros: Visual clarity, momentum-driven, works across timeframes
• Cons: Can produce false signals in choppy ranges, lacks built‑in alerts

Indicator Specifications

Final Words

The Forex Momentum Winner Indicator is an accessible tool for traders wanting to monitor momentum trends visually.

With clear color-coded bars, it guides entries, stop-loss placement, and take-profit exits.

For best results, use it alongside other analysis tools and apply disciplined risk management.

Download the indicator, test it thoroughly on a demo, and integrate it into your strategy for sharper momentum-based trading.