What is the Joker Filter Indicator for MT4?

The Joker filter indicator is a technical indicator that helps traders discern whether or not a particular asset has experienced significant price movements over a given period. The indicator displays the percentage change in an asset’s price relative to the previous day’s close, with values ranging from 0 to 100.

Joker Filter Indicator

Download the Free Joker Filter Indicator

A high percentage indicates that the asset’s price has risen sharply, while a low ratio suggests that the price has fallen. The indicator helps spot short-term trading opportunities and is commonly used by traders in forex markets.

How to use the Joker Filter Indicator for MT4?

The Joker Filter Indicator can be used effectively in long and short trades to help you make informed investment decisions. To use it, you need to set up your indicators and look at them regularly to identify areas where you should consider taking positions. This can help you manage risk while still profiting from trends in the market.

Joker Filter Indicator MT4 trading settings

The indicator consists of three moving averages: a long-term average (the baseline) and two short-term averages (the moving lines). The middle line is the new average, calculated as the average of the two shorter lines divided by their sum. The first moving average is calculated as the average of the baseline and the second moving average.

The second moving average is calculated as the average of the first moving average and a constant value representing how far the price has moved from its baseline value.

Joker Filter Indicator Advantages

The Joker filter indicator has several advantages over other hands. It provides an easy-to-understand visual representation of market sentiment and can help traders identify potential turning points in a given currency’s price movement.

Additionally, unlike traditional Bollinger bands, which can be challenging to understand and interpret for novice traders, the Joker filter provides a more intuitive way to determine whether a currency will likely increase or decrease in value over a given period.

Joker Filter Indicator Disadvantages

The main disadvantages of using a forex Joker filter indicator are that it may not provide as accurate a picture of the market as other more advanced technical analysis tools, and it can be difficult for beginners to understand and implement effectively. However, the benefits of a forex Joker filter include its easy-to-use interface and low cost. There are also a variety of free downloadable versions available.

JF Indicator installation on the MT4 platform

The Joker Filter Indicator is a technical analysis tool traders use to filter out false signals and identify potential trends in the market. To install the indicator on the MT4 platform, follow these steps:

  1. Download the Joker Filter Indicator file from a reliable source.
  2. Open the MT4 platform and go to “File” -> “Open Data Folder.”
  3. Open the “MQL4” folder, then the “Indicators” folder.
  4. Copy the Joker Filter Indicator file (usually in .ex4 or .mq4 format) into the “Indicators” folder.
  5. Close and restart the MT4 platform.
  6. On the left-hand side of the MT4 platform, under “Navigator,” find the “Indicators” folder and click the arrow to expand it.
  7. Find the Joker Filter Indicator in the list of indicators and double-click it.
  8. Set the indicator’s parameters as desired (e.g., period, colors, etc.).
  9. Click “OK” to apply the indicator to the chart.

Once you have applied the Joker Filter Indicator to your chart, you should be able to see the filtered trend lines and signals it generates. Remember always to use indicators as part of a larger trading strategy and never rely solely on them for trading decisions.

Joker Filter Indicator mt4

Joker Filter Indicator mt4 free download


The Joker Filter Indicator is a valuable tool for identifying potential trends in the market. It is easy to use and affordable, making it a good option for beginner traders.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Telegram Channel | Quora | Reddit

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