The Timing Colored Signals MT4 forex indicator is a buy/sell signal line trading oscillator.
The indicators fluctuate between 0 and 100.
The 100 value represents an overbought market while the 0 value represents an oversold market.
The Timing indicator draws a colored signal line: green color means the trend is bullish, orange color means the trend is bearish and finally a yellow colored signal line suggests the trend is flat.
Trading the timing signal oscillator for Metatrader 4 is quite simple: go long when the indicator draws a green line and go short when the indicator draws an orange line.
Do nothing when the indicator draws a yellow signal line or stay with your current position.
However, I would use it together with a trend following indicator and take signals from the Timing indicator in the direction of the prevailing trend as indicated by the trend following indicator.
This will increase the number of successful trades.
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Indicator Chart (EUR/USD D1)
The EUR/USD Daily chart below displays the Timing Colored Signals Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Timing Colored Signals MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Initiate a long trade when the oscillator reaches the 0 level (oversold) and then start drawing a green signal line (bullish). For best practices, the overall trend must be up.
Sell Signal: Initiate a short trade when the oscillator reaches the 100 level (overbought) and then start drawing an orange signal line (bearish). For best practices, the overall trend must be down.
Trade Exit: Use your own method of trade exit.
Timing Colored Signals + Zero Lag Moving Average MT4 Strategy
This MT4 strategy combines the fast signal behavior of the Timing Colored Signals indicator with the trend smoothing strength of the Zero Lag Moving Average indicator.
Both tools complement each other well. The oscillator provides early turning points while the moving average defines the dominant market direction.
This keeps the strategy simple and suitable for beginners and for traders who want a clean chart with clear trend confirmation.
The setup works best on M15, M30 and H1.
These time frames reduce chart noise, allowing the moving average to identify trends more reliably.
Short-term scalpers can still use it, but the examples below focus on intraday and swing movements for better consistency.
Buy Entry Rules
- The Timing Colored Signals oscillator must drop to the 0 level and then start drawing a green line.
- The Zero Lag Moving Average must be sloping upward and price must be above it.
- Enter the buy trade once the candle closes above the moving average in the direction of the new green signal.
- Stop loss is placed a few pips below the last swing low.
- Take profit when the Timing Colored Signals indicator changes color to orange.
Sell Entry Rules
- The Timing Colored Signals oscillator must reach the 100 level and then start drawing an orange line.
- The Zero Lag Moving Average must be sloping downward and price must be below it.
- Enter the sell trade once the candle closes below the moving average in the direction of the new orange signal.
- Stop loss is placed a few pips above the last swing high.
- Take profit when the Timing Colored Signals indicator changes color to green.
Advantages
- Combines early momentum signals with reliable trend direction.
- Works across many currency pairs and sessions.
- Can adapt to intraday and swing trading.
Drawbacks
- Signal delays can occur after sharp spikes in price.
- Requires discipline to avoid trading against the moving average.
Case Study 1
On EURUSD M30 during the London session, the oscillator touched the 0 level after a short pullback and then turned green.
At the same time, price remained above the Zero Lag Moving Average which was pointing upward.
The next candle closed above the moving average and confirmed trend continuation.
A buy trade was taken with a stop loss below the previous swing low.
Price moved steadily for the next hour and hit a 28 pip target.
The movement aligned perfectly with the early green signal and the trend direction of the moving average.
Case Study 2
On GBPUSD H1, the oscillator reached the 100 level after an extended push upward.
The Timing oscillator turned orange which hinted that bullish momentum was weakening.
Price also closed below the Zero Lag Moving Average which had already begun to turn downward.
A sell trade was taken with a stop loss above the recent spike high.
The market dropped through the next support zone and produced a clean 42 pip profit.
The combination of the orange reversal signal and the downward moving average provided strong alignment.
Strategy Tips
- Buy setups are stronger when the oscillator reaches the 0 level, turns green and price stays above the Zero Lag Moving Average.
- Sell setups work best when the oscillator reaches the 100 level, turns orange and price trades below the Zero Lag Moving Average.
- Avoid trading when the moving average is flat because the market is usually ranging.
- Do not hold a trade once the Timing indicator changes color against your position because momentum is shifting.
- Use MACD as an extra filter. Above zero supports buy trades. Below zero supports sell trades.
- Always check for upcoming news releases to avoid sudden spikes that can disrupt clean trend setups.
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Download the “timing-indicator.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Filter, Length) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Oscillator
