FX Multi Meter is a free popular Metatrader 4 indicator that analyses the attached currency pair and displays the buy/sell trend in an advanced dashboard.
The following technical indicators are used: MACD, PSAR and Stochastic.
The indicator pops up in the main MT4 chart window as a technical analysis dashboard.
General Assumptions:
- The trend is considered bullish when most indicators turn green.
- The trend is considered bearish when most indicators turn red.
The look of the dashboard can be modified by editing the indicator’s inputs.
The FX Multi Meter 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 “FX_Multi-Meter.mq4” indicator for MT4
Indicator Example Chart (EUR/USD M5)
The example chart below displays the FX Multi Meter mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the FX Multi Meter 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: Technical analysis
Does the indicator repaint? No.
Download Now:
Download the “FX_Multi-Meter.mq4” indicator for Metatrader 4
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the FX_Multi-Meter.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.