The Sadukey indicator for MT4 is another trend following indicator developed for the Metatrader 4 platform.
Red dots indicate an up trending market. Blue dots indicate a down trending market.
Use in conjunction with other technical analysis tools to create a complete Forex trading system.
Stop Loss Placement
A stop loss will be placed a few pips above the first blue dot for sell trades.
On the contrary, a stop loss will be placed a few pips below the first red dot for buy trades.
Trail your stop 1 pip below the red dots for buy trades.
Trail your stop 1 above the blue dots for sell trades.
EUR/USD Daily Chart Example
How to install the Sadukey custom indicator in Metatrader 4?
- Download the Sadukey.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.