The Trade Assistant MT4 indicator provides buy and sell forex trading signals based on multiple time frames and indicators. It calculates the trade signals for 1 min, 5 min, 15 min, 30 min, H1 and H4 time frames. Furthermore, it provides trading signals of classic MetaTrader Stochastic RSI and CCI indicators in the same indicator window. As a result, forex traders can have a complete understanding of the charts from a technical analysis perspective.
Features of Trade Assistant MT4 Indicator
The indicator shows buy and sell trading signals in green and red arrows. Up arrows shows a bullish signal, down arrows indicate bearish trend while sideways arrows indicate weak bullish or bearish trend.
Traders can enter buy trades if all four indicator signals show green up arrow with a stop loss below the previous swing low. On the other hand, traders can hold the positions until one or two indicator signals indicate an opposite direction.
Another important feature is the trading signals from multiple chart time frames. Traders can use this by trading in the direction of a higher time frame while using a lower time frame trading signals to enter and exit. A similar trading strategy can be executed in a bearish trend.
Benefits of Trade Assistant MT4 Indicator
The indicator is very beneficial to technical analysis traders as it provides signals from 4 different technical aspects. It provides a clean interface with a complete view of technical analysis from lowest to H4 time frame.
It shows trading signals from 1 min to H4 time frame. So, it helps all types of forex traders including scalpers, short and long-term traders. It works on all chart time frames and displays the trading signals in a separate indicator window.
Indicator Settings Description
PercentK:, PercentD:, Slowing: Stochastic input settings.
RSIP1:, RSIP2: Period for RSI calculation.
sBUY:, sSell:, sWait:, sCCIAgainstBuy:, sCCIAgainstSell: Buy and Sell chart symbols.