The Munyuk MT4 forex indicator is quite a popular short-term trend following trading indicator that works well.
Munyuk identifies the short-term bullish and bearish currency trend for any pair.
It works great for both scalping and day trading.
How it works
The Munyuk indicator draws colored buy/sell dots in a separate Metatrader 4 window.
- A green dot represents a short-term bullish trend
- A red dot represents a short-term bearish trend
In order to get the most out of this indicator, trade it in agreement with a longer period moving average type technical indicator.
For instance, mix it with a moving average or ADMI and trade in the direction of the overall trend.
Trend upward? Trade the green dots and ignore the red dots.
Trend downward? Trade the red dots and ignore the green dots.
For scalping purposes, use the Munyuk indicator on low spread pairs during the most volatile trading sessions.
For buy signals, place your protective stop-loss 1-2 pips below the previous swing low level.
For sell signals, place your protective stop-loss 1-2 pips above the previous swing high level.
Use reward risk to ratio 1:1 or higher.
Free Download
Download the “de-munyuk-indicator.ex4” MT4 indicator
Indicator Chart (EUR/USD M15)
The EUR/USD 15-Minute chart below displays the Munyuk Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Munyuk MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade position when the Munyuk MT4 indicator paints green dots on the chart (short-term bullish trend).
Sell Signal: Open sell trade position when the Munyuk MT4 indicator paints red dots on the chart (short-term bearish trend).
Trade Exit: Use your own method of trade exit.
Munyuk Salper + Coron Trend Scalping Strategy for MT4
This strategy uses the Munyuk Salper Trend Following Indicator for entry signals and the Coron Forex Indicator for trend confirmation.
The Munyuk Salper marks green dots for buy signals and red dots for sell signals.
The Coron indicator paints bars green when market conditions favour bullish moves and red when bearish momentum dominates.
By combining a precise entry trigger with trend direction confirmation, this setup aims for fast scalping entries aligned with overall short-term bias.
This scalping method works best on 1-minute (M1) and 5‑minute (M5) charts, where moves can be captured quickly.
You only enter trades when both the Munyuk Salper dot and the Coron bar align in the same direction.
With tight stop losses and small profit targets, the strategy is designed for multiple quick trades during active forex sessions.
Buy Entry Rules
- Coron indicator bars are green, showing bullish trend context.
- Munyuk Salper displays a green dot, signaling a buy trigger.
- Enter a buy trade at the close of the signal candle (or at the next candle open).
- Place a stop loss a few pips below the recent swing low or just below the low of the signal candle, depending on pair volatility and time frame.
- Take profit when price moves a small distance (e.g. 5–12 pips on M1, 8–20 pips on M5).
- Or close when a red Coron bar appears or a red Munyuk Salper dot appears (sign of reversal).
Sell Entry Rules
- Coron indicator bars are red, showing bearish trend context.
- Munyuk Salper displays a red dot, signaling a sell trigger.
- Enter a sell trade at the close of the signal candle (or at the next candle open).
- Place a stop loss a few pips above the recent swing high or just above the high of the signal candle.
- Take profit when price moves a small distance (5–12 pips on M1, 8–20 pips on M5).
- Or exit when a green Coron bar appears or a green Munyuk Salper dot appears.
Advantages
- Entry signals are clear and easy to interpret: green dot + green bar for buy, red dot + red bar for sell.
- Works on very short timeframes (M1/M5), enabling multiple trades per session when market conditions are right.
- Combining trend confirmation with an entry signal helps avoid many false entries typical of noise on low timeframes.
- Fast trades with small targets reduce exposure to longer-term volatility and news risk.
- Flexible exit criteria (fixed pips or signal‑based) allow adaptation to changing volatility or price behavior.
- Suitable for many currency pairs with good liquidity, increasing opportunity frequency.
Drawbacks
- False signals in choppy or range‑bound markets can lead to multiple small losses.
- Because profit targets are small, a string of losses or one bad trade (e.g. wide spread or slippage) can wipe out several winners.
Case Study 1 – Buy Trade on EURUSD M5
During a London session on EURUSD M5, the Coron indicator painted consecutive green bars, showing bullish trend pressure.
A green dot from Munyuk Salper appeared after a small pullback.
A buy trade was opened at the next candle open.
Stop loss was placed 7 pips below the recent swing low.
Price moved upward and 15 pips profit was taken when a red Coron bar appeared, signaling weakening bullish pressure.
Case Study 2 – Sell Trade on GBPUSD M1
On GBPUSD M1 during a volatile New York session, the Coron indicator turned red, signalling bearish context.
Soon after, Munyuk Salper displayed a red dot at the top of a small retracement.
A sell order was placed at the next candle.
Stop loss was set 5 pips above the recent swing high.
Price dropped quickly and after 11 pips profit a green Munyuk dot appeared, triggering an exit.
Strategy Tips
- Focus on pairs with tight spreads and consistent volatility such as EURUSD, GBPUSD, USDJPY, AUDUSD, or GBPJPY for clearer moves.
- Always use a stop loss and keep lot sizes small because scalping involves many trades and risk management is essential.
- Do not chase every signal; skip setups when the market seems noisy or lacks momentum even if indicators align.
- Consider taking partial profits or moving stop losses to break-even once the price moves favorably to reduce risk while letting winners run.
- Set a daily loss limit. Stop trading if multiple trades result in losses to prevent emotional decisions.
Download Now
Download the “de-munyuk-indicator.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (sound alert, bar width) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend
