The Fourier Extrapolator indicator for mt4 (Metatrader 4) predicts future market trends with the help of the Fourier trading algorithm.
The indicator pops up in the main MT4 chart window as an orange colored forecast line (see image below).
Buy & Sell Trade Example
- Consider opening a buy position if the orange prediction line is higher than the current price and the overall trend is upwards.
- Consider opening a sell position if the orange prediction line is lower than the current price and the overall trend is downwards.
The Fourier Extrapolator 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 exotic) and shows promising results if used correctly.
Free Download
Download the “fourier-extrapolator.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the Fourier Extrapolator 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 Fourier Extrapolator 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: Forecast
Does the indicator repaint? No.
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Download the “fourier-extrapolator.mq4” indicator for Metatrader 4
