The Super Waves Buy & Sell Forex indicator for MT4 provides interesting trading signals based on Forex waves.
The indicator appears in the bottom chart as lines that cross each other above and below the zero level.
Below, I will show you an example of how you can open buy and sell trades with this indicator.
Key Points
- Based on Forex waves
- Versatile technical indicator
- Good for entry points
- Well worth adding to your indicator collection
Free Download
Download the “waves indicator.ex4” MT4 indicator
Indicator Chart
The EUR/USD 5-minute chart below shows the Super Waves Buy & Sell trading indicator in action.
Signals From the Super Waves Buy & Sell Forex indicator
Signals from the Super Waves Buy & Sell Forex indicator for Metatrader 4 are easy to interpret and go as follows:
BUY:
- Open a buy position when the orange colored wave line crosses the red line bottom-up.
- Place a stop loss below immediate support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
SELL:
- Open a sell position when the orange colored wave line crosses the red line top-down.
- Place a stop loss above immediate resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download Now
Download the “waves indicator.ex4” MT4 indicator
Super Waves Buy Sell + XTC Trend Indicator Trend-Following Strategy
This strategy combines the clear buy and sell signals from the Super Waves Buy Sell Forex Indicator with the strong trend confirmation of the XTC Forex Trend Indicator.
The combination helps traders enter trades with strong momentum and clear trend direction.
Strategy Overview
- Super Waves Buy Sell Indicator provides timely buy and sell arrows based on wave analysis and price action.
- XTC Forex Trend Indicator confirms the overall trend direction to filter trades for higher accuracy.
Recommended Timeframes and Pairs
- Timeframes: M15, M30, H1
- Pairs: EUR/USD, GBP/USD, USD/JPY, AUD/USD
Buy Entry Rules
- Wait for a buy signal arrow from the Super Waves Indicator.
- Confirm that the XTC Trend Indicator shows an uptrend.
- Enter a buy trade at the close of the signal candle.
- Place stop loss below the recent swing low or below the wave low.
- Set take profit at key resistance levels or using a 2:1 reward-to-risk ratio.
Sell Entry Rules
- Wait for a sell signal arrow from the Super Waves Indicator.
- Confirm the XTC Trend Indicator indicates a downtrend.
- Enter a sell trade at candle close following confirmation.
- Place stop loss above the recent swing high or wave high.
- Take profit at support zones or with a favorable reward-to-risk ratio.
Additional Strategy Tips
- Trade with the overall market trend to increase the probability of success.
- Avoid trading during low volatility or news release periods to reduce risk.
- Use proper money management and adjust position sizes based on volatility and timeframe.
Customizable Parameters & Indicator Settings
Colors, style
More Info About This Trading Tool
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: waves oscillator
How to install the Super Waves Buy & Sell indicator in Metatrader 4?
- Copy and paste the waves indicator.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
