Forex-Spectro-Meter-Separate-Indicator
Watch the testing video here:
Forex Spectrometer Metatrader Separate Indicator
The Spectrometer MT4 forex indicator draws colored lines in a separate trading window.
The indicator lines oscillate between 0.04 and -0.04 values.
Currency traders can use this forex indicator in various ways but I like to use it like this:
- When the red thick Spectrometer line crosses above the zero line from below, look for buy trade opportunities
- When the red thick Spectrometer line crosses below the zero line from above, look for sell trade opportunities
Free Download
Download the “spectrometer.mq4” MT4 indicator
Basic Trading Signals
Signals from the Spectrometer forex MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy position when the red thick Spectrometer line crosses above the zero line from below.
Sell Signal: Open sell position when the red thick Spectrometer line crosses below the zero line from above.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
Download
Download the “spectrometer.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (iPeriod, iStartFrom) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Oscillator
Installation
Copy and paste the spectrometer.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)
