The Point & Figure Charts (P&F) indicator for Metatrader 4 is a clean charting type that can be used for both trade entries and exits.
In essence, the Point and Figure chart displays price movements without taking the time component into account.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
The indicator appears in a separate MT4 chart window.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Point figure.mq4” indicator for MT4
Indicator Chart (EUR/USD H4)
The picture below shows the Point & Figure Charts 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 Point & Figure Charts 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: Charts
Does the indicator repaint? No.
