The Wavy Dash Forex signals indicator for MT4 transforms price data into an excellent trend-following signals indicator that works for trade entry and exit.
The indicator appears in the main chart as a colored signals line and can be used as a standalone trading tool.
The Wavy Dash indicator is very reliable, lightweight, and will not slow down your trading platform.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
Key Points
- Trend signal indicator
- Newbie friendly
- Works on any time frame
- Non-repaint
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a possible trend reversals confirmation tool.
Free Download
Download the “WavyDash.mq4” MT4 indicator
Indicator Example Chart
The EUR/USD 5-minutes chart below shows the Wavy Dash Forex indicator in action.
Basic Trading Signals
Signals from the Wavy Dash Forex indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- A new buy signal is given when the green colored signal line starts painting on the chart.
- Place stop loss below support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
SELL:
- A new sell signal is given when the red colored signal line starts painting on the chart.
- Place stop loss above resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download This Forex Indicator
Download the “WavyDash.mq4” MT4 indicator
Adjustable Parameters & Settings
Back, colors, style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: trend signal
How to install the Wavy Dash Forex Signals indicator in Metatrader 4?
- Copy and paste the WavyDash.mq4 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)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button