The Quantile Bands Forex indicator for mt4 can be classified as a trend-following type indicator and it delivers great entry and exit signals.
The indicator gets displayed in the main chart as a trend-following channel with signals.
Finding buy and sell trades is very easy with this indicator and goes as follows:
- Enter a buy trade when the middle band gets colored green (bullish).
- Enter a sell trade when the middle band gets colored brown (bearish).
The Quantile Bands indicator can be used as a standalone trading tool for both trade entry & exit and works equally well for all currency pairs and other MT4 trading instruments.
Free Download:
Download the “quantile-bands.mq4” indicator for MT4
Indicator Example Chart (EUR/USD H1)
The picture below shows the Quantile Bands mt4 indicator in action on the trading chart.
After you downloaded and installed the indicator (mq4 or ex4 format) to the MT4 trading platform, it should look like the image as shown above.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Quantile Bands 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: Signal
Does the indicator repaint? No.
Download Now:
Download the “quantile-bands.mq4” 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 quantile-bands.mq4 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.