Stop loss indicator.
Setting the value of a stop loss order has always been the main task when opening a new transaction, but calculating its size is not always within the capabilities of a novice trader.
This tool was developed precisely for this category of players. There is absolutely no need to prove the need to set this order for every transaction, as this is the basic basis of any Forex strategy .
Correlation indicator.
There are many different strategies in the Forex market, one of the most popular of which is the use of the principle of the relationship between exchange rates, also known as Forex correlation .
The idea is to find two related currency pairs and determine how one currency pair behaves when the other changes. You can do this yourself, but it's easier to use a correlation indicator.
Stochastic indicator
Stochastic is one of the most popular indicators used in technical analysis of the Forex market, so this tool deserves special attention.
Despite its ease of use and configuration, it provides fairly accurate market entry signals in most cases.
This script is typically included in the indicator set of any trader's trading terminal, but if you don't have it, you can download the file via a direct link.
Forex volume indicator.
A useful tool through which you can find out the Forex volume, or rather track its changes, which allow you to judge how strong the current trend movement is. After all, an increase in trade volumes has always been considered a confirming factor in favor of the existing price.
The volume indicator works on the principle of an oscillator, comparing the received data with the average statistical indicators on a given timeframe. This makes it possible to correctly assess the dynamics of the changes that have arisen.
Chaikin oscillator
The Chaikin indicator is based on such a popular instrument as MACD , the main changes affected not only the appearance, but also some of its functional features.
Now this script also includes the “A/D” script.
The coordinated work of two popular tools allows you to most accurately analyze the existing Forex trend.
Excellent for traders trading trend strategies, it has simple setup and is distinguished by accurate readings, can work with various currency pairs and on any time frame.
Therefore, the oscillator managed to gain quite high popularity among the majority of Forex traders.
Way market indicator.
The name of this indicator speaks for itself: Way market or, translated, the market path means researching the current situation in the Forex market, identifying all existing trends and sentiments.
This is a rather complex technical analysis tool that combines a lot of all possible scripts.
Main features:
- determining the direction of the existing exchange rate trend,
- measuring trend strength indicators,
- warning about the likelihood of a price reversal in the near future,
- separate analysis of uptrend and downtrend,
- the ability to determine who currently dominates the market, bulls or bears.
On Balance Volume indicator.
Balance volume plays a huge role in Forex trading and can only be measured using specialized technical tools.
One of which is the balance volume indicator, or in its original name “On Balance Volume”.
Its usefulness can only be assessed when applied in real trading.
This tool has been familiar to traders in the foreign exchange market for over 50 years, but despite constant changes in market trends, it has not lost its relevance and can be useful to any Forex trader.
It is no wonder that the indicator can be found in the kit of most standard trading platforms.
New "Moving Average" on moving averages
The Moving Average indicator is a classic tool for Forex trading; it gained its popularity quite a long time ago, and not without reason.
Quite a few improved scripts have been created based on the standard version of this tool, one of which is presented in this article.
The script is based on the same principles; just like the basic version, it works on the basis of moving averages, although now there are four of them.
And unlike the usual version of the script, the data display is now displayed in a separate window.
This allows you to give a detailed picture of the price movement on the time period of your choice; now you have the opportunity to simultaneously assess the situation on several time frames at once.
A useful spread indicator for MT4
A very useful tool for every trader, the spread indicator allows you to constantly monitor the broker's commission for any currency pair.
Now you don't need to constantly peer at quotes; all the information you need is right in the trading terminal window.
Spread – the broker's commission for each currency purchase or sale transaction – can be either fixed or floating, changing depending on market volatility or at your broker's discretion.
The lowest rate is observed for currency pairs involving the US dollar, and the highest for exotic forex trading instruments.
The spread indicator is essential for those who trade using scalping strategies or use pipsing to make money on Forex.
Forex news indicator for mt4
Trading on news is one of the most popular strategies on the Forex currency market and the stock exchange; it allows even a novice trader to make a profit without any special knowledge.
This strategy is based on monitoring the release of major financial news and, based on the information received, decisions are made on opening new transactions, their direction and duration.
The news indicator for MT4 makes it possible to receive information in the fastest and at the same time convenient way.
Thanks to it, news is displayed directly in the mt4 trading terminal, which gives some advantage over other traders and greatly simplifies the work.
At the same time, we should not forget that not every news is reflected in the movement of the trend, some events are practically ignored by the Forex market, so you should not rush to open a transaction, but you must first wait for the price to react to the release of the news.
RSI index indicator
Another tool for finding the most successful entry points into the market, the RSI index indicator allows you to quickly and, most importantly, quite accurately analyze the prevailing trend in the Forex market.
The script works equally effectively on all currency pairs and any time frames, and is completely universal.
With its help, you can trade using almost any trading strategy, and the available settings allow you to adjust the script according to your needs.
The RSI index is also called the relative strength index; an indicator developed on its basis makes it possible to determine the occurrence of changes in the main trend of the price movement of a currency pair.
The basis of the work is the divergence of two moving averages, and the main signals are their intersection of the established price levels.
Dollar Index Indicator (USDX)
Simply an indispensable indicator for those who like to establish a connection between the dollar exchange rate and the fundamental factors that influence it.
The indicator is designed to integrate such an indicator as the dollar index (USDX) into the chart of a currency pair. It not only shows the latest value, but also displays the dynamics of changes over a certain period of time.
This makes it possible to track the impact of the changes that have occurred on the exchange rate of the US dollar.
The dollar index indicator is a practically ready-made trading tool that builds a relationship (correlation) between the US dollar exchange rate and the USDX index. It can be used on any currency pair that includes the US dollar.
The dollar index reflects the US trade turnover with a number of leading world powers; it contains the proportion between imports and exports of goods, and a host of other equally important parameters are also taken into account in its calculations.
Fractals indicator, setup and use
Fractals play a leading role in technical analysis of the Forex market; their construction is a rather labor-intensive process and requires a lot of time.
The fractals indicator is designed to solve this problem automatically; it will take over all the mechanical work.
This will free up time for additional analysis of the Forex market situation and the development of new profitable trading strategies.
The program is fully functional and extremely easy to install and configure.
Fractals themselves represent one of the varieties of minimum and maximum points that allow us to create a picture of the market.
New ATR indicator
The well-known ATR indicator has undergone significant changes. Now, for greater clarity, it is combined with the MACD indicator.
As a result of connecting the scripts, all standard functions were preserved and new features were added; the new program became even more functional and efficient.
In fact, a new technical tool has appeared that combines the useful properties of long-known Forex scripts.
Now, after installation on the trading platform, you can observe not only the usual curve, but also a multi-colored MACD histogram.
This approach makes it possible to conduct a comprehensive trend analysis and timely identify all possible trends in the Forex market.
Also, now you will not need to place two indicators of the same name on the chart.
macd indicator, description and settings
The macd indicator, proven by time and by many professional traders, allows you to trade Forex quite effectively.
Its new version has become even more accurate and functional; it analyzes the trend based on the current situation taking into account historical data, which makes its use even more justified and effective.
The visual display of the received data has been improved, new operating parameters have been added.
Now, to improve the work, two new levels are displayed in the indicator window; they allow you to avoid false signals, you open transactions only at the most favorable moments.
A moving average was also added, thanks to which the movement of the main trend in Forex is quite accurately conveyed. It is displayed as a blue curved line.
Automatic construction of Linear Regression
A simple and at the same time quite effective Linear Regression indicator allows you to automatically build a linear regression channel.
It independently finds the necessary levels, you just have to decide to open an order that determines the boundaries of the channel.
When testing problems in the operation and installation of this script, no problems were found; the program is completely ready for use and can even work with default settings.
The construction is based on the specified parameters, at your discretion, you independently set the width of the channel and the timeframe.
The program perfectly determines all the significant points of the minimum and maximum on the time you selected.
Fibo levels (channels) indicator
Trading based on Fibo levels is one of the most common Forex trading strategies; the levels form price channels that serve as the basis for analyzing and forecasting the situation on the Forex market.
Building them manually is quite labor-intensive, so a more rational approach would be to use a technical indicator that will independently perform all the routine work.
All you have to do is analyze the current situation and choose the most suitable trading strategy.
This can be either trading inside a channel or trading on a breakout, and a larger number of lines significantly expands the possibilities of analyzing the market situation.
The indicator is installed in standard mode.
Automatic construction of support and resistance
This script is designed to build support and resistance lines; after entering the appropriate settings, it builds several levels on the chart of a currency pair.
Which allow you to quite accurately determine the minimum and maximum price values depending on the time interval.
The constructed lines are more reminiscent of price levels than support and resistance lines, so working with them has some distinctive features.
Here you will not see the classic price channel, but only levels for different time frames.
This is more of an analytical tool than a means of searching for entry signals, since the script does not give clear signals and does not highlight entry points.
Trend line indicator
Trend lines are the basis of most strategies used in financial markets; if desired, they can be built manually using the capabilities of the trader’s terminal, but a simpler solution is to use the “Trend Line” indicator.
This tool will quickly draw support and resistance lines on the chart of a currency pair based on a given time period.
This will allow you to implement a trading strategy in a price channel without wasting time on manually drawing channel boundaries.
Another advantage is that the trend line indicator automatically rebuilds the lines simultaneously with the movement of the currency pair chart, which is not possible with manual construction.
Your task is only to install the indicator and enter the initial data or use the default settings.
Forex channels indicator, automatic construction of price channels
A fairly advanced indicator that allows you to simultaneously display multiple channels on a currency pair chart, each corresponding to its own time frame.
This approach makes it possible to easily analyze the dynamics of the trend movement in the long and short term.
Automatically plotting channels using the Channels Forex indicator will save you a ton of time and help you achieve more impressive trading results.
The tool is characterized by its correct operation and easy setup; to use it, you only need to enter data for three time periods.
The best trend indicator "Ultra wizard".
One of the best trend indicator options, Ultra Wizard, allows for a complete assessment of the trend, displays reversal probability data, and provides a wealth of additional information. It truly is the best trend indicator, as the information it provides provides a complete picture of the current Forex market trend.
