The Forex Strategy indicator for Metatrader 4 is a complete buy and sell trading strategy that works out of the box.
For ease of use, the complete trading strategy was transformed into buy and sell signal arrows.
The indicator pops up in the main MT4 chart window as buy and sell arrows and also includes a mini dashboard that contains the actual trade info.
Buy & Sell Trade Example
- Open a buy trade if the blue colored signal arrow is displayed on the chart.
- Open a sell trade if the red colored signal arrow gets displayed on the chart.
The Forex Strategy indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors, and exotics) and shows promising results when used correctly.
Free Download
Download the “forex-strategy-indicator.mq4” indicator for MT4
Indicator Chart (EUR/USD Daily)
The example chart below displays the Forex Strategy 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 Strategy 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: Strategy
Does the indicator repaint? No.
Forex Strategy Indicator + XP Moving Average MT4 Scalping Strategy
This MT4 scalping strategy combines the Forex Strategy Indicator and the XP Moving Average Indicator to capture short-term price movements.
The Forex Strategy Indicator provides blue arrows for buy signals and red arrows for sell signals, with take profit indicated at the “X” symbol.
The XP Moving Average confirms the trend: green line for bullish and red line for bearish.
This strategy is suitable for 1-minute to 5-minute intraday charts.
Buy Entry Rules
- Confirm the XP Moving Average Indicator shows a green line, indicating a bullish trend.
- Wait for a blue buy arrow from the Forex Strategy Indicator.
- Enter a buy trade at the close of the candle, showing the blue arrow.
- Set a stop loss just below the recent swing low.
- Set take profit between 5–15 pips or exit when the “X” symbol appears.
Sell Entry Rules
- Confirm the XP Moving Average Indicator shows a red line, indicating a bearish trend.
- Wait for a red sell arrow from the Forex Strategy Indicator.
- Enter a sell trade at the close of the candle, showing the red arrow.
- Set a stop loss just above the recent swing high.
- Set take profit between 5–15 pips or exit when the “X” symbol appears.
Advantages
- Quick signals suitable for intraday scalping.
- Trend confirmation reduces false entries.
- Clear entry and exit points simplify trade execution.
Drawbacks
- Requires high concentration and fast decision-making due to short-term trades.
- Frequent trading can lead to higher transaction costs and spread exposure.
- Limited profit per trade; must rely on multiple trades for meaningful gains.
- Overtrading risk if signals are interpreted without patience and discipline.
- Not suitable for traders who cannot monitor the chart continuously.
Example Case Studies
Case Study 1: EUR/GBP M1 Chart
The XP Moving Average Indicator showed a green line for a bullish trend.
A blue buy arrow appeared from the Forex Strategy Indicator.
A buy trade was entered at 0.8870 with a stop loss at 0.8865 and take profit at 0.8880 (10 pips).
Price moved upward, hitting the take profit within 5 minutes.
Case Study 2: USD/CHF M1 Chart
The XP Moving Average Indicator showed a red line for a bearish trend.
A red sell arrow appeared from the Forex Strategy Indicator.
A sell trade was entered at 0.9110 with a stop loss at 0.9115 and take profit at 0.9100 (10 pips).
Price declined, reaching the take profit target within 6 minutes.
Strategy Tips
- Use 1-minute to 5-minute charts for intraday scalping.
- Trade during active sessions like London and New York for optimal volatility.
- Wait for both indicators to confirm the trade before entering.
- Employ tight stop losses and predefined take profit levels (5–15 pips) for risk management.
Download Now
Download the “forex-strategy-indicator.mq4” indicator for Metatrader 4
