Forex Masar MT4 Indicator:
About the Forex Masar MT4 Indicator
Your friend when it comes to identifying strong trends.
The algorithm used in this indicator takes input from the Parabolic Sar (PSar) and Supporting/Resistance levels.
Helps you find best entry points for your trades after reaching a certain level, and easily identify where you can exit/re-enter your trades.
This indicator can be used on all time frames and pairs.
Features alert function.
No need to set up the indicator.
How to use:
Simply attach to any chart.
NB: Look for new trades when the price has moved away from the upper (for selling) and lower (for buying) extremes of the indicator window. Make sure that the current time frame, as well as the higher time frames (H1-H4-Daily-Weekly) support the same direction, before entering trades on lower time frames.
Use as you see fit for your strategy.
When the blue line crosses below the red line and blue arrow, it signals buying opportunities.
When the red line crosses above the blue line and red arrow, it signals selling opportunities.
Best results on Major Pairs, but can also be used on other pairs.
Important to note:
- Please do not use this indicator haphazardly. Make sure it compliments your strategy.
- Don’t risk money you cannot afford to lose.
- You use this indicator at your own risk. Please apply money management wisely.
- Always test your strategy on a demo account before using a new indicator on a live account.
Copy and paste the file 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)