The Signal Price Action indicator for mt4 (Metatrader 4) delivers non-repaint, price action-based buy & sell signal arrows on the chart.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
The signals appear on the main MT4 chart window in the form of blue and red colored signal arrows.
Buy & Sell Trade Example
- Open a buy position when the blue arrow gets printed on the chart.
- Open a sell position when the red arrow gets printed on the chart.
The Signal Price Action indicator can be used for both trade entry and exit or as an additional trend filter.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Signal Price Action Forex Indicator (MT4).mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Signal Price Action mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method when trading with the Signal Price Action 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.
Scalping Strategy for MT4: Signal Price Action + FX Prime Trend Indicator
This scalping strategy combines the Signal Price Action Forex Indicator MT4 with the FX Prime Trend Indicator MT4 to capture quick intraday moves with high probability.
The Signal Price Action indicator shows precise entry arrows on the chart: blue for buy signals and red for sell signals.
The FX Prime Trend indicator confirms the underlying trend with its colored line: green for bullish trends and red for bearish trends.
This setup is ideal for scalpers trading lower time frames like M1, M5, and M15.
It works best during active sessions such as the London and New York trading hours, allowing traders to capitalize on fast price movements while following the trend.
Buy Entry Rules
- Check that the FX Prime Trend line is green, indicating a bullish trend.
- Wait for a blue arrow to appear on the Signal Price Action indicator.
- Enter a buy trade at the close of the candle with the blue arrow.
- Place a stop loss below the recent swing low or below a recent support level.
- Take profit between 7–15 pips, or trail the stop as the trend continues upward.
Sell Entry Rules
- Ensure the FX Prime Trend line is red, indicating a bearish trend.
- Wait for a red arrow to appear on the Signal Price Action indicator.
- Enter a sell trade at the close of the candle with the red arrow.
- Place a stop loss above the recent swing high or a nearby resistance level.
- Take profit between 7–15 pips, or trail the stop as the trend continues downward.
Advantages
- Combines precise arrow-based entries with trend confirmation for higher accuracy.
- Easy to follow visually, ideal for fast-paced scalping trades.
- Works on multiple currency pairs with tight spreads and high liquidity.
- Helps traders stay aligned with the underlying trend while capturing small intraday moves.
- It can be applied to M1, M5, and M15 charts, making it flexible for different trading styles.
Drawbacks
- Spread and slippage can impact small scalp profits on very short time frames.
- False arrows may occur if the trend line changes direction rapidly.
Case Study 1: EURUSD M5 – London Session
During the London session, EURUSD displayed a green FX Prime Trend line, confirming an uptrend.
A blue arrow appeared on the Signal Price Action indicator at 1.0980.
A buy trade was entered with a 10-pip stop loss.
Within 10–15 minutes, the price reached the target of 1.0992, yielding a 12-pip profit.
Case Study 2: GBPUSD M1 – New York Session
GBPUSD on the M1 chart showed a red FX Prime Trend line, indicating a bearish trend.
A red arrow appeared at 1.2792.
A sell trade was executed with a 12-pip stop loss.
Price dropped to 1.2780 within 10 minutes, yielding a 12-pip profit.
The alignment of the arrow signal with the trend line produced a high-probability scalp.
Strategy Tips
- Trade primarily during high-volume sessions to increase the likelihood of strong moves.
- Only take trades when the arrow signal aligns with the FX Prime Trend line.
- Use trailing stops to lock in profits while allowing the trade to follow strong intraday trends.
- Focus on capturing small, consistent pips rather than holding for large moves, since the target is 7–15 pips per trade.
By combining the Signal Price Action MT4 and FX Prime Trend MT4 indicators, this scalping strategy provides fast and reliable entries that follow the market trend.
Download Now
Download the “Signal Price Action Forex Indicator (MT4).mq4” indicator for Metatrader 4
