The Magic Wave Forex Signal indicator for Metatrader 4 is based on the Magic Wave trade logic and delivers buy/sell signals on the chart.
The indicator pops up in the main MT4 chart window in the form of yellow and red colored trading signals.
Buy & Sell Trade Example
- Go long when the green arrow gets printed on the chart.
- Go short when the red arrow gets printed on the chart.
The Magic Wave Forex Signal indicator can be used for both trade entry and exit or as a trend-following 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 “Magic wave.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Magic Wave Forex Signal mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Magic Wave Forex Signal 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
Does the indicator repaint? No.
