About the Murray Lines Forex Indicator
The Murray Lines Forex Indicator for Metatrader 4 is a technical support and resistance tool based on the Murray Math Lines concept.
It plots key horizontal levels that represent probable turning points where price may stall or reverse.
This helps traders identify potential bounce and breakout zones without manually drawing lines.
Murray Lines divide price into multiple evenly spaced levels that reflect significant support and resistance bands.
These lines act like dynamic market boundaries that price tends to respect.
Traders use them to locate areas where price may react, providing a systematic way to anticipate entry and exit points.
It’s useful for both trend followers and range traders who want predefined zones to plan trades.
Free Download
Download the “Murray Lines.mq4” indicator for MT4
Key Features
- Displays Murray Math horizontal support and resistance levels.
- Works on all time frames and forex pairs.
- Helps identify key zones for entries and exits.
Indicator Chart
The Murray Lines Forex indicator chart shows a series of horizontal bands overlaid on the price chart.
Each line represents significant support or resistance based on the Murray Math framework.
Traders can watch how price interacts with these levels to gauge strength or weakness.
Approaching a lower line suggests a support area for buys, while nearing an upper line points to potential resistance for sells.
Guide to Trade with Murray Lines Forex Indicator
Buy Rules
- Identify the nearest lower Murray Line acting as a support zone.
- Watch for price approaching, touching, or showing reaction at that level.
- Confirm bullish signal with price action or trend bias.
- Enter a buy trade when the price starts to rebound off the support zone.
Sell Rules
- Identify the upper Murray Line acting as a resistance zone.
- Watch for price approaching or reacting to that resistance level.
- Confirm bearish bias with trend or candle rejection.
- Enter a sell trade when the price turns down from the resistance zone.
Stop Loss
- For buys, place a stop loss below the identified support Murray Line.
- For sells, place a stop loss above the resistance Murray Line.
- Give enough room for normal price noise near these zones.
Take Profit
- Use the next Murray Line above your entry for buys as the first take profit target.
- Use the next lower line below your entry for sells as the initial target.
- Trail your stop as the price moves in your favor toward the next Murray Line.
Practical Tips
- Avoid entries when the price is far from any significant Murray Lines.
- Combine with simple momentum filters like moving averages or oscillators for confirmation.
- Consider the relative strength of reaction at a level before committing capital.
- Practice with demo trades to understand how Murray Lines behave in different market regimes.
Murray Lines + RSI-Bollinger Reversal Forex Scalping Strategy
This scalping method pairs the Murray Lines Forex Indicator for MT4 with the RSI with Bollinger Bands Trend Reversal Indicator for MT4.
The Murray Lines indicator draws support/resistance levels (Murray math lines) in different colors, and the RSI-Bollinger indicator gives green arrows for buy signals and red arrows for sell signals.
Together, they can develop a disciplined scalping approach focused on quick, high-probability trades.
This strategy works best on fast, liquid pairs (e.g., EURUSD, USDJPY, GBPUSD) and on low to medium timeframes, such as M5 and M15.
The idea is to use Murray lines as dynamic support/resistance zones and enter when the RSI-Bollinger reversal arrow appears near a Murray boundary.
Buy Entry Rules
- Identify a lower Murray line (support zone) that the price is approaching or touching.
- Confirm that the price is near or slightly above that Murray line (not far away).
- Wait for the RSI-Bollinger indicator to draw a green arrow (buy reversal signal).
- Enter a buy trade at the opening of the next candle after the green arrow.
- Set stop loss just below the Murray line or a few pips under the recent swing low.
- Take profit at the next Murray line above (resistance) or when a red arrow appears.
Sell Entry Rules
- Identify an upper Murray line (resistance zone) that the price is approaching.
- Confirm that the price is close to or slightly below the Murray line.
- Wait for the RSI-Bollinger indicator to draw a red arrow (sell reversal signal).
- Enter a sell trade at the next candle’s open after the red arrow.
- Set stop loss just above the Murray line or a few pips above the recent swing high.
- Take profit at the next Murray line down or when a green arrow appears.
Advantages
- Murray lines act as dynamic zones, giving clear support/resistance reference levels.
- RSI-Bollinger arrows help time entries when the price shows reversal signs near those zones.
- Scalping focus means shorter exposure and faster turnaround of capital.
- Visual clarity helps reduce hesitation: zones and arrows are easy to interpret.
- Works across major pairs with strong volatility during active US/EU sessions.
Drawbacks
- In strongly trending markets, reversals near Murray lines may be weak and yield false signals.
- Whipsaws near lines can trigger stop-outs before the move direction confirms.
- Requires quick reaction and tight risk control to manage losses on false reversals.
- Performance may suffer in flat or low-volatility periods.
Case Study 1: USDJPY M5
On USDJPY in a 5-minute chart, the price approached a Murray support line.
The RSI-Bollinger indicator then formed a green arrow just as the price touched the support zone.
We entered a buy at 144.55, placing a stop loss a few pips below the support line at 144.45.
Price rebounded quickly and moved up toward the next Murray line (resistance) at 144.75.
A red arrow appeared near that resistance, signaling exit.
The trade delivered +20 pips in under 30 minutes, illustrating how the confluence of support zone + reversal arrow can produce quick scalps.
Case Study 2: GBPUSD M15
On the GBPUSD 15-minute chart, the price climbed toward an upper Murray resistance line.
Shortly after touching that zone, the RSI-Bollinger indicator drew a red arrow.
We shorted at 1.2750 with a stop loss at 1.2770, just above the line.
The pair pulled back nicely, falling to the next Murray support line near 1.2720.
At that point, a green arrow appeared, signaling a reversal upward and prompting us to exit.
The trade captured about 30 pips over 45 minutes, showing how resistance + reversal signal alignment can yield effective scalps.
Strategy Tips
- Aim to trade only when the RSI-Bollinger arrow appears in proximity (within a few pips) to a Murray line zone.
- Try to trade only the first reversal arrow after the price touches or slightly crosses a Murray line—not every arrow.
- Use tighter stops, e.g., 8–15 pips on M5 or 15–25 pips on M15, depending on pair volatility.
- Consider scaling out part of your profit when the price reaches midway to the next Murray line, then hold the rest until the arrow reversal or line contact.
- Monitor sessions: avoid trading during quiet times like Asian low volatility hours unless strong reversals form.
- Backtest on several currency pairs to identify which ones respect Murray lines more reliably for your style.
Download Now
Download the “Murray Lines.mq4” indicator for Metatrader 4
FAQ
What are Murray Lines?
Murray Lines are a series of mathematically spaced horizontal support and resistance levels.
They help identify probable turning points in market price based on historical behavior.
Which timeframes work best?
Murray Lines can be applied to all timeframes.
Higher timeframes like H1 and above tend to produce more significant reactions, while lower timeframes work for short-term entries.
Should this indicator be used alone?
It works well with other technical tools.
Using it alongside trend confirmation, price action, or momentum indicators often improves entry timing.
Summary
The Murray Lines Forex Indicator for MT4 provides structured horizontal levels that represent key support and resistance zones.
These levels help traders anticipate where the price may bounce or reverse.
For buy trades, identify a lower Murray Line (support zone) that the price is approaching or touching and enter as the price reacts upward.
For sell trades, find an upper Murray Line (resistance zone) price that is nearing and enter when price turns down.
Murray Lines offer an organized way to place entries, stops, and profit targets.
