Forex Smart Dollar Inside Bar MT4 Indicator:
About the Forex Smart Dollar Inside Bar MT4 Indicator
The strategy works on the ECN account (5min and more)
Inside bar : with the direction of movement average 200 (you can change 200 it if you want).
when the price is on the MA the indicator only gives the buy sign, and the opposite if the price is below the MA
1 Buy: The indicator draws a blue line, when a candle closes above that line and the price reverses towards the line, Buy from that blue line. Put the stop on the red line and the take profit on the yellow line TP1, or green line TP2
2- Sell: When it’s a downtrend, and a candle closes below the blue line, and the price returns to the line, sell from the blue line, put the stop on the red line and take profit on the yellow line TP1, or green line TP2 .
*** Risk management: the Lot is calculated at 2% (you can change it) of equity. so that all trades have the same percentage.
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)