The Super Signal Bands MT4 indicator is a very popular stop and reverse signal generator forex trading indicator.
Using the indicator is utterly simple for any trader:
Look to buy when the Super Signal Bands MT4 indicator draws a green signal line below price. This is a bullish trend signal.
Look to sell when the Super Signal Bands MT4 indicator draws an orange signal line above price. This is a bearish trend signal.
Feel free to experiment with the indicator’s standard settings. They can be changed directly from the indicator’s inputs tab.
Free Download
Download the “bbands-stop-indicator.mq4” MT4 indicator
Indicator Chart (EUR/USD H4)
The EUR/USD 4-Hour chart below displays the Super Signal Bands Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Super Signal Bands MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Initiate new buy trade position when the signal line changes color from orange to green. Place a stop-loss below the green signal line and trail it up just below the green line.
Sell Signal: Initiate new sell trade position when the signal line changes color from green to orange. Place a stop-loss above the red signal line and trail it down just above the orange line.
Trade Exit: Use your own method of trade exit.
Super Signal Bands + Urban Towers MT4 Day Trading Strategy
This strategy combines the Super Signal Bands MT4 and the Urban Towers MT4 to capture intraday trends with high probability.
The Super Signal Bands indicator shows trend direction using colored lines, while Urban Towers provides precise entry signals with arrows.
Using both together allows traders to confirm the trend before entering, increasing the likelihood of successful trades.
The strategy is designed for day trading on timeframes such as 15-minute, 30-minute, and 1-hour charts.
It works best on currency pairs with moderate volatility where trends are clear and sustained during the trading session.
Buy Entry Rules
- Confirm the trend with the Super Signal Bands: green line indicates a bullish trend.
- Wait for a blue arrow from the Urban Towers indicator to signal a buy opportunity.
- Enter a buy trade once both conditions are met.
- Place a stop loss below the most recent swing low to manage risk.
- Set take profit at the next resistance level or exit when the trend line turns orange or a red arrow appears.
Sell Entry Rules
- Confirm the trend with the Super Signal Bands: the orange line indicates a bearish trend.
- Wait for a red arrow from the Urban Towers indicator to signal a sell opportunity.
- Enter a sell trade once both conditions are met.
- Place a stop loss above the most recent swing high.
- Set take profit at the next support level or exit when the trend line turns green or a blue arrow appears.
Advantages
- Helps traders identify strong trends quickly, increasing the probability of successful trades.
- Combining trend lines with arrow signals reduces guesswork and makes decision-making faster.
- Works well for multiple currency pairs and intraday timeframes, providing flexibility.
- Clear rules for stop loss and take profit support disciplined risk management.
- It can be used for both trending and breakout setups when the indicators align properly.
- Reduces overtrading by requiring both indicators to confirm the signal before entry.
Drawbacks
- Trades are only taken when both indicators align, which may reduce the number of opportunities.
- Requires constant monitoring to catch signals in real time for intraday trading.
- Trend confirmation may lag slightly, leading to late entries during fast moves.
Case Study 1
Pair: EUR/USD, 15-minute chart. Super Signal Bands green line indicated a bullish trend and Urban Towers gave a blue arrow.
Entry buy at 1.0850. Stop loss set at 1.0830 for 20 pips risk.
Price moved up to 1.0885 near resistance, trade exited for 35 pips profit.
Case Study 2
Pair: GBP/JPY, 30-minute chart. Super Signal Bands orange line indicated a bearish trend and Urban Towers gave a red arrow.
Entry sell at 157.20. Stop loss set at 157.50 for 30 pips risk.
Price fell to 156.45 at support, trade closed for 75 pips profit.
Case Study 3
Pair: AUD/USD, 1-hour chart. Super Signal Bands green line confirmed a bullish trend and Urban Towers gave a blue arrow.
Entry buy at 0.6655. Stop loss placed at 0.6630 for 25 pips risk.
Price reached 0.6685 before the trend line turned orange, trade closed with 30 pips profit.
Strategy Tips
- Focus on major currency pairs like EUR/USD, GBP/USD, and USD/JPY for tighter spreads and better trend clarity.
- Use higher-volume trading hours to increase the reliability of signals and reduce false entries.
- Combine with support and resistance levels to refine entry and exit points.
- Consider scaling out partial positions at key levels to lock in profits while letting the trend run.
- Monitor multiple timeframes to confirm the overall trend before entering trades.
- Maintain a trading journal to track performance, adjust settings, and improve discipline.
- Always manage risk with proper position sizing and avoid risking more than a small percentage of your account on a single trade.
This strategy combines trend confirmation from Super Signal Bands with precise entries from Urban Towers, providing a disciplined approach to day trading that can capture profitable moves while managing risk effectively.
Download Now
Download the “bbands-stop-indicator.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Length, Deviation, X, Money risk, Signal, Line, Nbars) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Trend
