Forex Richter Scale MT4 Indicator

Forex Richter Scale MT4 Indicator:

About the Forex Richter Scale MT4 Indicator

This oscillator helps you to identify sideways movement that allows you to close your current position before you place a new position.

It’s simple straight and forward.

When the indicator is flat, it indicates it’s trending.

When the indicator is printing at the extreme low (-1)/high(1) back and forth like a Richter scale graph, it indicates the market is in correction (sideway/diagonally).

I call this earthquake, this is the opportunity for you to either take partial profit or open position to the prevailing trend or counter trend trading.

Flat indicator indicates that the market is trending.

It could compliment your other trending indicators i.e. alligator, ichimoku or any moving averages indicators

The input of this indicator are the following

1. Period (45 default)

2. Color line (white default)

3. Level color (red default)

Test results:

Forex Richter Scale 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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