The Volty Channel Stop V2 indicator is a trend following leading indicator for Metatrader 4.
It draws blue and red dots above/below the currency price.
A red dot means a sell opportunity while a blue dot means a buy opportunity.
Stop Loss Placement
A stop loss will be placed a few pips above the red dot for sell trades.
On the contrary, a stop loss will be placed a few pips below the red dots for buy trades.
Use a trailing stop to protect your profits.
EUR/USD Daily Chart Example
How to install the Volty Channel Stop V2 custom indicator in Metatrader 4?
- Download the Volty Channel StopV2.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.