The Impulse Indicator is a Metatrader 4 forex indicator that is built on the foundation of two indicators i.e. MACD and EMA.
The indicator consists of differently colored bars that are held within the indicator window.
- When the signals on these indicators (MACD & EMA) go up or rise, the bars gets filled green (uptrend).
- Red is the dominant color of the bars when these indicators (MACD & EMA) go down or decline (downtrend).
- Blue bars represent a flat or range-bound forex market.
The Impulse MT4 Indicator offers currency traders the opportunity to spot setups within price dynamics that are not visible to the naked eye.
Free Download
Download the “impulse-indicator.ex4” MT4 indicator
Example Chart
The GBP/USD M30 chart below displays the Impulse Indicator Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the bars of the Impulse Indicator Metatrader 4 custom forex indicator turns green within the indicator window.
Sell Signal: Go short when the bars of the Impulse Indicator Metatrader 4 custom indicator turns red within the indicator window.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the Impulse Indicator pops up a deep sky blue bar.
Exit sell trade: Close all sell orders if while a bearish trend is running, the Impulse Indicator puts up a deep sky blue bar.
Tips: The Impulse Indicator can be traded on all timeframes, making it a great candidate for scalping, short, medium and long term trading.
Download
Download the “impulse-indicator.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (TimeFrame, EMA_Period, MAC_FastPeriod, MACD_ SlowPeriod, MACD_SignalPeriod), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend
Installation
Copy and paste the impulse-indicator.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)