This versatile indicator is called the Forex sunrise indicator. The indicator line is based on a moving average and the buy/sell hall on support and resistance calculations.
You can use the indicator in 2 different ways: buy or sell pairs based on the indicator dotted blue/red line or buy and sell based on the buy/sell hall.
Trading Signals From This Indicator
Method 1 (most easy):
BUY: Buy as soon as the dotted MA line changes its color from red to blue (bullish)
SELL: Sell as soon as the dotted MA line changes its color from blue to red (bearish)
Method 2 (advanced traders):
BUY: Look to buy near the Buy Hall
SELL: Look to sell near the Sell Hall
Configurable Indicator Options
OnEmail (true/false), OnAlert (true/false)
EUR/USD 4 Hour Chart Example
How to install the Forex Sunrise custom indicator in Metatrader 4?
- Download the forex_sunrise.mq4 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.