MRS Forex Reversal Signal is a free mt4 (Metatrader 4) indicator that provides accurate trend reversal levels in the currency market.
The indicator can be used as a standalone trading tool for both trade entry and exit.
It can also be used as an additional counter-trend filter that works together with an existing strategy or system.
Buy & sell signal:
- A blue symbol is a bullish trend reversal signal.
- A red symbol is a bearish trend reversal signal.
For scalping on the lower time frames, the indicator performs best during the London and New York trading sessions.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download:
Download the “mrs-indicator.mq4” indicator for MT4
Indicator Example Chart (EUR/USD H4)
The example chart below displays the MRS Forex Reversal Signal mt4 indicator in action.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the MRS Forex Reversal Signal indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Trend reversal
Does the indicator repaint? No.
Download Now:
Download the “mrs-indicator.mq4” indicator for Metatrader 4
How to install this indicator on Metatrader 4?
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 mrs-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.