The Bos & Choch Metatrader 4 indicator offers straightforward trading signals that align with market trends and reversals.
This indicator accurately signals entry and exit points for both long and short trades across any currency pair of your choice.
Examining the trading chart below, the bullish signal is represented by the blue line, identified as CHOCH, while the bearish signal is indicated by the red line, referred to as BOS.
The MT4 indicator serves effectively as a standalone trading tool or can be used in conjunction with other indicators.
Key Points:
- Trend and Reversal Identification: The indicator identifies both trends and trend reversals, ensuring you stay ahead of market movements.
- Stop and Reverse Indicator: It serves as a stop and reverse indicator, allowing for seamless transitions between trades.
- Versatile Time Frame Application: Works effectively across all time frames, providing flexibility for different trading strategies.
Test the indicator first on a demo account before running it on a live trading account.
Free Download
Download the “Bos&Choch .ex4” MT4 indicator
Indicator Example Chart
The EUR/USD 15-minute chart below demonstrates the BOS & CHoCH indicator in action, with the bullish signal (blue CHOCH line) and bearish signal (red BOS line) displayed.
Basic Trading Signals
Trading signals from the Bos & Choch indicator are easy to interpret and work as follows:
BUY:
- Open a buy trade when the blue CHOCH line appears on the activity chart.
- Add a protective stop loss a few pips below the most recent support level.
- Exit the long trade when the red BOS line is displayed on the chart.
SELL:
- Open a sell trade when the red BOS line appears on the activity chart.
- Add a protective stop loss a few pips above the most recent resistance level.
- Exit the short trade when the blue CHOCH line is displayed on the chart.
Download This Forex Indicator
Download the “Bos&Choch .ex4” MT4 indicator
Adjustable Parameters & Settings
The BOS & CHoCH indicator allows for extensive customization, including ZigZAG value, BOS and CHOCH display options, arrows on chart, colors, and line styles.
Personalize the settings to match your trading style and preferences.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works on any time frame
Indicator Type: trading signals
How can the Bos & Choch indicator be installed in Metatrader 4?
- Copy and paste the Bos&Choch .ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
- Restart the trading platform
- Add the indicator to the chart
Summary
The BOS & CHoCH indicator is essential for forex traders looking to improve their trading strategies with accurate and easy-to-interpret signals.
This indicator identifies market trends and reversals and provides clear entry and exit points for long and short trades across any currency pair.
Its versatility across all time frames and customizable settings make it adaptable to various trading styles.
Whether used as a standalone tool or with other indicators, the BOS & CHoCH Indicator enhances decision-making and helps maximize trading profits.
By testing the indicator on a demo account first, traders can ensure its effectiveness before applying it to live trading.