Forex Vector is a free MT4 (Metatrader 4) non-repaint trend indicator that provides accurate buy and sell signals on the chart for any time frame.
The indicator pops up in the main MT4 chart window as green & red signal arrows.
The Vector indicator is newbie-friendly and also works very well for scalping and day trading on the lower time frames.
Buy & Sell Trade Example
- A buy signal occurs whenever a green arrow pops up on the chart.
- A sell signal occurs whenever a red arrow pops up on the chart.
The Forex Vector 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 VECTOR.ex4” indicator for MT4
Indicator Chart (EUR/USD Daily)
The example chart below displays the Forex Vector 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 Vector 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.
MT4 Scalping Strategy: Forex Vector + Tunnel MA
This strategy combines the Forex Vector Indicator with the Tunnel MA Indicator to provide high-probability intraday trading signals.
The Forex Vector Indicator gives clear arrows on the chart: green arrows indicate bullish setups and red arrows indicate bearish setups.
The Tunnel MA Indicator adds trend confirmation: when candlesticks are above the Tunnel MA, the market is bullish; when candlesticks are below, the market is bearish.
Using both indicators together allows traders to filter out weak signals and scalp fast-moving pairs on 1-minute, 5-minute, or 15-minute charts.
Buy Entry Rules
- A green arrow appears on the Forex Vector Indicator chart.
- The candlestick is above the Tunnel MA line, confirming a bullish trend.
- Enter a buy trade at the close of the confirming candle.
- Place a stop loss a few pips below the recent swing low or below the Tunnel MA.
- Set take profit at the next minor resistance level or use a fixed pip target (e.g., 12–20 pips for scalping).
Sell Entry Rules
- A red arrow appears on the Forex Vector Indicator chart.
- The candlestick is below the Tunnel MA line, confirming a bearish trend.
- Enter a sell trade at the close of the confirming candle.
- Place a stop loss a few pips above the recent swing high or above the Tunnel MA.
- Set take profit at the next minor support level or a fixed pip target (e.g., 12–20 pips for scalping).
Advantages
- Combines precise arrow signals with trend confirmation for higher probability trades.
- Effective for fast intraday scalping on lower timeframes.
- Flexible take profit options allow adaptation to market volatility.
Drawbacks
- Requires both arrow and Tunnel MA alignment, which may reduce trade frequency.
- Less suitable for long-term trading or swing trades.
- Quick execution is needed on small timeframes to capture scalps.
Case Study 1: EUR/CHF on 5-Minute Chart
During the London session, a green arrow appeared on the Forex Vector chart while the candlesticks remained above the Tunnel MA, confirming a bullish trend.
A buy trade was entered at 1.0815.
The recent swing low was 1.0805.
The stop loss was set at 1.0802 (13 pips risk).
The next minor resistance was at 1.0830, which became the take profit target.
Price moved upward and hit the target, providing 15 pips profit.
Case Study 2: GBP/AUD on 1-Minute Chart
During the New York session, a red arrow appeared on the Forex Vector chart while candlesticks remained below the Tunnel MA, confirming a bearish trend.
A sell trade was entered at 1.8050.
The recent swing high was 1.8060, and the stop loss was placed at 1.8063 (13 pips risk).
The next minor support level was at 1.8035, which became the take profit target.
Price moved down quickly and reached the target, resulting in 15 pips profit.
Strategy Tips
- Use this strategy on high-liquidity pairs to minimize spreads and slippage.
- Ensure both the arrow signal and Tunnel MA trend alignment before entering trades.
- Adjust take profit according to nearby support/resistance levels or fixed pip targets for fast scalps.
- Consider trailing stops once the trade moves in your favor to secure profits.
