Retracement Finder Metatrader 4 Indicator
The retracement finder MT4 indicator has great potential if used properly. Use it only in trending markets to pin-point your entries. You could be using trendlines or trend indicators to define the trend. See image below. Works for any currency pair and time frame.
Uptrending markets: Wait for the first blue bar to appear on your chart then go long.
Downtrending markets: Wait for the first red bar to appear on your chart then go short.
EUR/USD Daily Chart Example