BraidFilter is a free Metatrader 4 indicator that can be classified as an oscillator and it identifies buy and sell trends more accurately.
The indicator pops up in a separate trading window in the form of 3 colored signal lines.
Braidfilter may indicate you when the trend is about to turn in the opposite direction.
Scalpers and day traders can benefit from this technical indicator.
Key Points
- Identifies buy and sell trends.
- Easy to use.
- Provides precise trade entry signals.
- Well worth adding to your indicator collection.
BraidFilter can work together with any existing trading strategy or system as an additional trading signals indicator.
Free Download
Download the “BraidFilter.mq4” MT4 indicator
Indicator Example Chart
The EUR/USD H1 chart below shows the BraidFilter indicator in action.
Basic Trading Signals
Signals from the BraidFilter Forex indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- A buy signal is given when the blue colored BraidFilter line turns back above the red colored line.
- Set a stop loss below technical support.
- Choose your own take profit method, or simply wait for an opposite sell trading signal.
SELL:
- A sell signal is given when the red colored BraidFilter line turns back above the blue colored line.
- Set a stop loss above technical resistance.
- Choose your own take profit method, or simply wait for an opposite buy trading signal.
Download This Forex Indicator
Download the “BraidFilter.mq4” MT4 indicator
Adjustable Parameters & Settings
Pips percent, MA type, period 1, period 2, period 3, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Oscillator
How to install the BraidFilter indicator in Metatrader 4?
- Copy and paste the BraidFilter.mq4 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)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button