The Forex Profit Supreme Signal indicator is a popular buy/sell signals indicator built for the Metatrader 4 (MT4) trading platform.
The indicator pops up in the main MT4 chart window as red and blue colored signal arrows.
The Forex Profit Supreme Signal indicator is newbie friendly and can be used by anyone, regardless of prior trading experience.
Buy & Sell Trade Example
- A buy signal occurs as soon as the blue arrow appears on the chart.
- A sell signal occurs as soon as the red arrow appears on the chart.
The Forex Profit Supreme Signal indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
For scalping and day trading, the indicator performs best during the London and New York trading sessions.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Forexprofitsupreme Signal.mq4” indicator for MT4
Indicator Chart (EUR/USD Daily)
The example chart below displays the Forex Profit Supreme Signal mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Forex Profit Supreme Signal 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: Signals
Does the indicator repaint? No.
Day Trading Strategy: Forex Profit Supreme Signal + Buzzer Indicator (MT4)
This strategy combines the Forex Profit Supreme Signal and the Buzzer Forex Indicator to identify high-probability intraday trades.
The Forex Profit Supreme Signal provides blue arrows for buy entries and red arrows for sell entries.
The Buzzer Forex Indicator confirms the trend: a green line indicates bullish momentum, while a red line signals bearish momentum.
This strategy is suitable for 15-minute to 1-hour charts during high-liquidity trading sessions.
Buy Entry Rules
- Wait for a blue arrow from the Forex Profit Supreme Signal indicating a buy signal.
- Confirm the trend is bullish with the green line of the Buzzer Indicator.
- Enter a buy trade at the close of the confirming candle.
- Set the stop loss below the recent swing low or a nearby support level.
- Set take profit at a 1:2 reward-to-risk ratio, or exit if the Buzzer line turns red or a red arrow appears.
Sell Entry Rules
- Wait for a red arrow from the Forex Profit Supreme Signal indicating a sell signal.
- Confirm the trend is bearish with the red line of the Buzzer Indicator.
- Enter a sell trade at the close of the confirming candle.
- Set the stop loss above the recent swing high or a nearby resistance level.
- Set take profit at a 1:2 reward-to-risk ratio, or exit if the Buzzer line turns green or a blue arrow appears.
Advantages
- Combines precise entry signals with trend confirmation for higher accuracy.
- Non-repainting indicators ensure past signals remain valid.
- Helps traders avoid entering against the prevailing trend.
- Works on multiple currency pairs and intraday timeframes.
- Clear entry and exit rules improve trading discipline.
Drawbacks
- Signals may lag slightly in fast-moving markets, causing delayed entries.
- Monitoring multiple charts for different currency pairs can be overwhelming for some traders.
- Overtrading may occur if all signals are followed without filtering for quality setups.
- Less effective for scalping on very short timeframes due to noise and indicator lag.
- Patience is required; entering too early can result in losing trades.
Case Study 1
On the EUR/USD 30-minute chart, a blue arrow appeared from the Forex Profit Supreme Signal while the Buzzer Indicator showed a green line.
A buy trade was entered at 1.1870, with a stop loss at 1.1855 and a take profit at 1.1900.
The trade reached take profit within 2 hours, yielding a 30-pip gain.
Case Study 2
On the GBP/USD 1-hour chart, a red arrow appeared from the Forex Profit Supreme Signal while the Buzzer Indicator showed a red line.
A sell trade was entered at 1.3455, with a stop loss at 1.3475 and a take profit at 1.3415.
The trade reached take profit in 3 hours, capturing a 40-pip gain.
Strategy Tips
- Use trailing stops to lock in profits during strong intraday trends.
- Wait for full confirmation from both indicators before entering a trade to avoid premature entries.
- Adjust stop loss and take profit levels according to market volatility and the specific currency pair.
- Focus on trending pairs rather than choppy or sideways markets for better results.
Download Now
Download the “Forexprofitsupreme Signal.mq4” indicator for Metatrader 4
