The Bigger Time Frames OHLC Forex indicator displays the open, high, low and close price on the MT4 chart in different colors.
The indicator gives you an idea where the market is heading to and can be used to trade powerful breakouts in trending markets.
The indicator is simple to use, even for newbie traders.
Key Takeaways:
- A bullish market occurs when the closing price is higher than the open price.
- A bearish market occurs when the closing price is lower than the open price.
- Pure price action, no lag.
- Simple to use, yet powerful technical indicator
Free Download:
Download the “bigger-tf-ohlc-indicator.mq4” indicator for MT4
Indicator Example Chart (EUR/USD H1)
The example chart below displays the Bigger Time Frames OHLC indicator in action on the trading chart.
Trading Signals (example):
Buy signal: A buy signal occurs whenever price closes above the previous day high price.
Sell signal: A sell signal occurs whenever price closes above the previous days low price.
As always, please trade in agreement with the overall trend and practice on a demo account first.
Utilize your own favorite stop loss and take profit method.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Price action
Repaint? No.
Download Now:
Download the “bigger-tf-ohlc-indicator.mq4” indicator for Metatrader 4
Usage:
Works for any trade style: scalping, day trading and swing trading.
Installation:
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the bigger-tf-ohlc-indicator.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.