The up and down step indicator is a fully automated buy and sell Forex indicator with very simple trading rules for both long and short trades.
Buy: Wait for an up arrow to appear on the chart. Then open a buy trade at the open of the next candlestick.
Place stop below the most recent support level.
Sell: Wait for an down arrow to appear on the chart. Then open a sell trade at the open of the next candlestick.
Place stop above the most recent resistance level.
Currency pairs: any
Preferred Time frames: 30 min and up
Configurable Indicator Options
EUR/USD Daily Chart Example
How to install the Up And Down Step Buy/Sell custom indicator in Metatrader 4?
- Download the stepupdown.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.