This Forex indicator for MT4 is called MKNC. It provides easy to read buy and sell signals.
The indicator consists of red dots and a blue signal line for trend direction.
It’s based on fast and slow exponential moving averages.
Trading Signals (see image below)
Buy:
Blue indicator signal line crosses the red dots from below. Open buy order at the open of the next candlestick.
Sell:
Blue indicator signal line crosses the red dots from above. Open sell order at the open of the next candlestick.
Indicator Preferences
Currency pairs: Any
Preferred Time frames: Suitable for 1 min charts and higher.
Sessions: 1 minute, 5 minute , 15 minute: London and US. All trading sessions above the 15 minute time frame.
Download
Download the MKNC_4.ex4 indicator.
Configurable Indicator Options
Colors, signal period, applied price, fast and slow EMA period
How to install the MKNC Signal Forex Trend custom indicator in Metatrader 4?
- Download the MKNC_4.ex4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.