The Maloma Channel indicator for mt4 (Metatrader 4) draws a trend-following channel around the candlesticks based on the Maloma trend method.
The indicator gets displayed in the main MT4 chart window and consists of an upper and lower channel line.
The red channel line acts as resistance, while the blue line acts as support.
Buy & Sell Trade Example
- Open a buy trade when the candlestick touches the lower blue channel line and the Maloma channel is trending upwards.
- Open a sell trade when the candlestick touches the upper red channel line and the Maloma channel is trending downwards.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Maloma channel.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Maloma Channel 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 when trading with the Maloma Channel 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 channel
Does the indicator repaint? No.
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Download the “Maloma channel.mq4” indicator for Metatrader 4
