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Forex Channel Metatrader 4 Indicator

    The Forex Channel indicator for MT4 draws a trend channel connecting the high and low currency prices.

    It now becomes very easy to identify the overall trend.

    General Assumptions

    Downward sloping channel: bearish trend
    Upward sloping channel: bullish trend

    Trading Signals

    Use in conjunction with oversold-overbought oscillator readings to enter a trade in the overall direction of the channel. Avoid trading against the channel.


    Download the ForexChannel.mq4 indicator.

    Configurable Indicator Options

    AllBars, BarsForFract

    GBP/JPY 1 Hour Chart Example


    How to install the Forex Channel custom indicator in Metatrader 4?

    • Download the ForexChannel.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.