The Forex Prediction Metatrader 4 indicator forecasts the trend of any currency pair for any timeframe.
The indicator analyses the trend for 7 different timeframes (M1, M5, M15, M30, 1H, 4H and 1D) and displays the outcome in a separate MT4 window below the main chart.
Based on the outcome, the Forex Prediction indicator draws a buy or sell arrow in real-time on the main activity chart.
- A buy signal occurs when there are more buyers than sellers in the market.
- Forex Prediction draws a buy arrow on the main chart.
- A sell signal occurs when there are more sellers than buyers in the market.
- Forex Prediction draws a sell arrow on the main chart.
This is a good indicator for short-term trading purposes.
Use it for scalping and intra-day trading.
For swing trading, confirm your Forex Prediction trades with price action or other technical indicators.
Free Download
Download the “forex-prediction.mq4” MT4 indicator
Indicator Chart (EUR/USD M5)
The EUR/USD 5-Minute chart below displays the Forex Prediction Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Forex Prediction MT4 indicator are easy to interpret and go as follows:
Buy Signal: Open a buy scalp or buy intraday trade when the Forex Prediction MT4 indicator draws a buy arrow on the chart. Place stop-loss below short-term support.
Sell Signal: Open a sell scalp or sell intraday trade when the Forex Prediction MT4 indicator draws a sell arrow on the chart. Place stop-loss above short-term resistance.
Trade Exit: Use your own method of trade exit.
Forex Prediction and Elite Pro Scalper MT4 Strategy for M1, M5 and M15 Charts
This strategy combines the Forex Prediction MT4 Indicator and the Elite Pro Scalper MT4 Indicator to capture short-term moves.
The Forex Prediction indicator shows a buy arrow for an uptrend and a sell arrow for a downtrend.
The Elite Pro Scalper provides additional timing with blue arrows for buy signals and red arrows for sell signals.
Using both indicators together helps traders confirm trend direction and entry points.
This strategy works on M1, M5, and M15 charts.
It is suitable for active scalpers and day traders who focus on major liquid currency pairs during high liquidity sessions.
Buy Entry Rules
- The Forex Prediction indicator must show a buy arrow.
- Wait for the Elite Pro Scalper to display a blue arrow for confirmation.
- Enter a buy trade at the open of the next candle after the blue arrow appears.
- Set the stop loss a few pips below the most recent swing low or a nearby support level.
- Set take profit using one of these methods:
- Fixed target: 5 to 8 pips on M1, 10 to 15 pips on M5, 15 to 25 pips on M15
- Target a recent minor resistance level based on previous highs
- Optionally use a trailing stop below each new swing low to capture extended moves
Sell Entry Rules
- The Forex Prediction indicator must show a sell arrow.
- Wait for the Elite Pro Scalper to display a red arrow for confirmation.
- Enter a sell trade at the open of the next candle after the red arrow appears.
- Set the stop loss a few pips above the most recent swing high or a nearby resistance level.
- Set take profit using one of these methods:
- Fixed target: 5 to 8 pips on M1, 10 to 15 pips on M5, 15 to 25 pips on M15
- Target a recent minor support level based on previous lows
- Optionally use a trailing stop above each new swing high to capture extended downward moves
Advantages
- Combining trend direction and entry signals increases accuracy and reduces false trades
- Works across multiple short-term time frames, allowing flexibility for different trading styles
- Easy-to-read visual signals make it simple for beginner and experienced traders alike
- Can be used on multiple currency pairs, giving frequent trading opportunities
- Helps traders enter trades with clear rules for stop loss and take profit, promoting disciplined trading
- Adaptable to both fast scalping on M1 and short-term swing trades on M15
- Signals allow for quick decision-making, which is important for intraday trading
- Requires minimal additional indicators, keeping charts uncluttered
Drawbacks
- Flat or ranging markets can produce false signals even with trend confirmation
- Spreads and slippage can affect profits on small targets
- Scalping requires constant attention and discipline
Example Case Studies
Case Study 1: GBPUSD M1 Chart
During the London session, the Forex Prediction indicator gave a buy arrow.
Shortly after, the Elite Pro Scalper drew a blue arrow.
A buy trade was opened at 1.27850.
Stop loss was placed at 1.27830 and take profit at 1.27870.
The trade closed after one minute with a 2-pip gain.
Case Study 2: AUDUSD M5 Chart
On the AUDUSD M5 chart, the Forex Prediction indicator showed a sell arrow.
After a minor retracement, the Elite Pro Scalper drew a red arrow.
A sell trade was opened at 0.66210 with a stop loss at 0.66300. Take profit was set at 0.66090.
The price reached the target within ten minutes for a 12-pip gain.
Case Study 3: EURUSD M15 Chart
On the EURUSD M15 chart, the Forex Prediction indicator displayed a buy arrow.
After a pullback, the Elite Pro Scalper drew a blue arrow.
A buy trade was opened at 1.09250. Stop loss was at 1.09050 and take profit at 1.09480.
The trade reached the target in forty-five minutes, showing that this strategy can also work for small-swing trades on M15 charts.
Strategy Tips
- Focus on major pairs like EURUSD, GBPUSD, AUDUSD, and USDJPY for the best results
- If the market is flat, skip trades even if arrows appear to avoid false signals
- Adjust stop loss and take profit according to market volatility.
- Use tighter targets in quiet periods and wider targets in active sessions
- Limit each trade to 1 to 2 percent of your account to manage risk
- Keep a trading journal to track pairs, timeframes, entry and exit points, and results for better future decision-making
- On M1, focus on micro scalps and avoid holding trades too long.
- On M15, aim to capture small swings rather than every single price movement
Download Now
Download the “forex-prediction.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (trigger level) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend
