The Oracle Direction Forex indicator for Metatrader 4 provides high-quality trend signals that works for any currency pair and time frame.
The indicator appears as colored blue/red/yellow histogram bars in a bottom window of the trading platform.
Oracle Direction is a beginner friendly trading indicator with easy to follow signals and can be used as a standalone trading tool for both trade entry and exit.
Buy & sell signal:
- Initiate a buy order when the indicator prints blue arrows for both rows.
- Initiate a sell order when the indicator prints red arrows for both rows.
- Stay aside when the arrows are mixed color.
For scalping and day trading, the indicator performs best during the London and New York trading sessions.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download:
Download the “oracle direction.ex4” indicator for MT4
Indicator Example Chart (EUR/USD M30)
The picture below shows the Oracle Direction mt4 indicator in action on the trading chart.
After you downloaded and installed the indicator (mq4 or ex4 format) to the trading platform, it should look like the image as shown above.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Oracle Direction Forex 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.
Download Now:
Download the “oracle direction.ex4” indicator for Metatrader 4
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the oracle direction.ex4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.