The Tether Line Forex Signals indicator for Metatrader 4 provides easy-to-trade buy and sell signals on the activity chart.
After loading the indicator onto the chart, you will notice a signal line that alternates between blue and red colors.
A buy signal occurs when the Tether signal line turns back to red from blue.
Likewise, a sell signal occurs when the Tether signal line turns back to blue from red.
It’s basically that simple.
Please note that the indicator is always active in the market, either with a buy or sell position.
Key Points
- A red Tether signal line triggers a buy trade position.
- A blue Tether signal line triggers a sell trade position.
- The indicator trades 24 hours a day.
- Can be used on any time frame, from M1 up to weekly.
- Deploy for scalping, day trading and swing trading purposes.
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
Free Download
Download the “Tether_Line.ex4″ indicator
Indicator Chart (EUR/AUD H1)
The EUR/AUD 1-hour chart below displays the Tether Line Forex Signals MT4 indicator in action.
Basic Trading Signals
Signals from the Tether Line Forex Signals MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade as soon as the red Tether signal line appears on the chart.
Place a stop loss some pips below the red signal line or use your own preferred stop loss strategy.
Take profit when an opposite signal appears on the chart (start of the blue Tether signal line).
Sell Signal: Open a sell trade as soon as the blue Tether signal line appears on the chart.
Place a stop loss some pips above resistance or use your own preferred stop loss strategy.
Take profit when an opposite signal appears on the chart (start of the red Tether signal line).
Tether Line + Best Forex Scalping Indicator Strategy for MT4 (M1, M5 & M15)
This strategy combines the Tether Line Forex Signals Indicator for MT4 and the Best Forex Scalping Indicator for MT4.
Using both indicators together offers a dual confirmation setup for rapid scalping entries on short timeframes (M1, M5, M15).
The idea is simple: follow the underlying trend signaled by the Tether Line (red = bullish, blue = bearish) and then act when the scalping indicator gives a matching arrow.
This approach allows traders to enter with the momentum of the move and the trend bias aligned.
It’s intended for traders comfortable with fast decision-making, smaller targets, and disciplined exits.
Buy Entry Rules
- Check that the Tether Line is red, indicating the trend has turned bullish.
- Wait for a blue arrow from the Best Forex Scalping Indicator indicating a buy signal.
- Enter a buy order as soon as the blue arrow appears and a new candle opens.
- Place a stop loss a few pips below the most recent swing low or the recent candle low (for example: M1 = 3-6 pips, M5 = 5-10 pips, M15 = 8-15 pips).
- Set a take profit target: M1: 4-8 pips, M5: 10-20 pips, M15: 20-30 pips, or exit earlier if a red arrow appears (sell signal) or the Tether Line turns blue.
Sell Entry Rules
- Confirm the Tether Line is blue, indicating a bearish trend.
- Wait for a red arrow from the Best Forex Scalping Indicator signaling a sell entry.
- Enter the sell trade at the new candle open, following the red arrow.
- Place stop loss a few pips above the recent swing high or recent candle high (M1: 3-6 pips, M5: 5-10 pips, M15: 8-15 pips).
- Set a take profit: M1: 4-8 pips, M5: 10-20 pips, M15: 20-30 pips, or exit earlier if a blue arrow appears or the Tether Line turns red.
Advantages
- The Tether Line gives a clear trend bias (red/blue), helping avoid counter-trend trades.
- The scalping indicator’s arrow gives quick entry timing, aligning with short-term moves.
- You get a structured system for M1, M5, and M15 charts, suitable for active scalpers.
- Combining trend line and signal arrow helps filter out random noise and weak setups.
- Clear stop loss and take profit rules make trade management simpler.
Drawbacks
- Short timeframes like M1 and M5 have high noise: false arrows or quick reversals can occur.
- If your broker has wide spreads or slow execution, small targets may be eaten by cost or slippage.
- During low volatility or range markets, the trend line may flip often, and the strategy may churn losses.
Example Case Study 1 – USDJPY M5
On the USDJPY pair during the London session, the Tether Line turned red, indicating a bullish trend.
Shortly after, a blue arrow from the scalping indicator appeared at 149.25.
A buy order was placed at 149.26 with a stop loss at 149.16 (10 pips) and a take profit at 149.45 (19 pips).
Price moved quickly, hit the target in about 12 minutes.
The trend line remained red throughout, and no reversal arrow appeared, validating the trade.
Example Case Study 2 – AUDUSD M1
During the Asian to London session transition, the Tether Line switched to blue, indicating a bearish trend on AUDUSD.
Shortly after, the scalping indicator produced a red arrow at 0.6732.
A sell trade was entered at 0.6731 with a stop loss at 0.6737 (6 pips) and a target at 0.6725 (6 pips).
The trade reached the target in under 5 minutes as the price followed the bearish bias, and no opposite arrow appeared.
Strategy Tips
- Prefer trading during high liquidity sessions (London or New York overlap) when moves are sharper and spreads are tighter.
- Use major pairs like EURUSD, USDJPY, GBPUSD, and AUDUSD for tighter spreads and better execution on M1 and M5.
- Before entry, ensure the Tether Line has held its color (red or blue) for at least 2-3 candles to confirm trend bias, avoiding immediate flips.
- If you see a trend line color change (red to blue or blue to red), exit any open trade and wait for the next valid setup.
- Keep a max daily trade count and stop after a set number of losses to preserve capital and avoid overtrading on scalps.
This Tether Line + Best Forex Scalping Indicator strategy for MT4 gives scalpers a disciplined way to trade short-term moves with structured entries and risk management.
Download Now
Download the “Tether_Line.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (length), Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: Forex signal
