The Secret Profit Levels Signals indicator for MT4 is a complete trading system that provides traders with the entry price, take profit target 1 and take profit target 2.
It comes in the form of a nice colored triangle.
Trading this system indicator is utterly simple.
Secret Profit Levels draws one or two triangles on the chart (depends on the overall trend).
One to buy the currency pair and one to sell the pair.
A buy signal occurs when price hits the thick green colored line of the upper buy triangle.
A sell signal occurs when price hits the thick red colored line of the lower sell triangle.
This is a typical set and forget trading system.
Buy and sell stop orders can be placed to execute the trade when price hits the thick green or thick red entry line of the triangle.
Both take profit orders (TP1, TP2) can be placed in advance as well.
Free Download
Download the “SecretProfitLevels.ex4” MT4 indicator
Example Chart
The CAD/JPY H1 chart below displays the Secret Profit Levels Signals Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the Secret Profit Levels Signals MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Initiate buy order when price hits the lower green thick line of the upper green triangle.
Place two take profit orders. Close half of the open position at TP1 and the remaining half at TP2.
Place a protective stop loss below the most recent support level.
Sell Signal: Initiate sell order when price hits the upper red thick line of the lower red triangle.
Place two take profit orders. Close half of the open position at TP1 and the remaining half at TP2.
Place a protective stop loss above the most recent resistance level.
Download
Download the “SecretProfitLevels.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (entry color, level color, stop color, buy triangle), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: signals
Installation
Copy and paste the SecretProfitLevels.ex4 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)