The Golden Variety Forex Signals indicator for the Metatrader 4 (MT4) platform analyses the chart and provides precise buy/sell trend arrows.
The indicator pops up in a separate MT4 window as easy to trade buy & sell arrows and colored trend bars.
Golden Variety can be used in different ways.
Buy & Sell Trade Example
- A blue up arrow is a buy signal.
- An orange down arrow is a sell signal.
- Trade in agreement with the longer-term trend.
The Golden Variety Forex Signals 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 purposes, the indicator tends to generate the most profit during the London and U.S. 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 “Golden Tendency String V2.ex4” indicator for MT4
Indicator Chart (EUR/USD M5)
The example chart below displays the Golden Variety Forex Signals mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the Golden Variety Forex Signals 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: Trend signal
Does the indicator repaint? No.
Golden Variety + Zero Lag Moving Average Scalping MT4 Strategy
Introduction
This MT4 scalping strategy combines the Golden Variety Forex Signals Indicator with the Zero Lag Moving Average Indicator.
The Golden Variety indicator provides clear buy and sell signals through blue and orange arrows.
The Zero Lag Moving Average defines the trend: price above the MA indicates a bullish trend, price below indicates a bearish trend.
Combining these two gives precise scalping opportunities aligned with the market trend.
This strategy works best on 1-minute to 15-minute charts and is ideal for major currency pairs such as EUR/USD, AUD/USD, and GBP/USD.
Why this combo works
The Golden Variety indicator gives immediate entry signals, while the Zero Lag MA confirms the prevailing trend.
Waiting for both indicators to align filters false signals and increases the probability of profitable scalps.
Buy Entry Rules
- The Golden Variety indicator shows a blue arrow (buy signal).
- Zero Lag Moving Average is below the price, confirming a bullish trend.
- Enter at the close of the candle, confirming the blue arrow.
- Stop loss: place 6–12 pips below the recent swing low.
- Take profit: 10–25 pips depending on pair volatility and timeframe.
Sell Entry Rules
- The Golden Variety indicator shows an orange arrow (sell signal).
- Zero Lag Moving Average is above the price, confirming a bearish trend.
- Enter at the close of the candle, confirming the orange arrow.
- Stop loss: place 6–12 pips above the recent swing high.
- Take profit: 10–25 pips depending on pair volatility and timeframe.
Advantages
- Clear arrow-based entries aligned with the trend.
- Works on multiple timeframes for scalping or short intraday trades.
- Helps traders quickly identify trend-aligned entry points.
Drawbacks
- Less effective in strong trending markets without retracements.
- Scalping costs can add up with higher spreads or commissions.
Example Case Study 1 — GBP/JPY, 5-Minute
Timeframe: 5M. Pair: GBP/JPY. Session: London open.
The Golden Variety indicator displayed a blue arrow. Zero Lag MA confirmed a bullish trend.
Entry: 156.25. Stop loss: 156.10 (15 pips). Take profit: 156.50 (25 pips).
Trade closed successfully with +25 pips.
Example Case Study 2 — AUD/USD, 1-Minute
Timeframe: 1M. Pair: AUD/USD. Session: New York overlap. The Golden Variety indicator displayed an orange arrow.
Zero Lag MA confirmed a bearish trend.
Entry: 0.6840. Stop loss: 0.6848 (8 pips). Take profit: 0.6825 (15 pips).
Trade closed at target for +15 pips.
Strategy Tips
- Trade during active market sessions for better liquidity.
- Use additional confirmations or price action for better accuracy.
- Backtest different pairs and sessions to optimize take profit targets.
- Maintain disciplined risk management and small lot sizes.
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Download the “Golden Tendency String V2.ex4” indicator for Metatrader 4
