Forex Out Line MT4 Indicator

Forex Out Line MT4 Indicator:

About the Forex Out Line MT4 Indicator

This indicator is based in moving average standard, but it’s calculated in certain period that the colour changes when the latest candle (not the current, but the one before) has certain interaction about higher value (i.e. highest from the newest better or worst than x periods candle highest [x is the period]), detail: backtesting so much won’t work, this indicator is limited to a certain pattern of past (i.e. it works like a charm the moving average from some past candles, not guaranteed will work like a charm more than this limit).

Gold = indicates a possible uptrend;

Teal = a possible downtrend.

Test results:

Forex Out Line MT4 Indicator

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)

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