4 Hour Entry Signal | Forex Indicator Download - MT4/MT5 Resources

This is the first thread I start and will probably be my last since this is the only system I use. I gained a lot of knowledge during my time in Forex trading, most of it at the Forex Factory. This is the best Forex site on the internet and I want to pay a small price for it.
This entry signal can be used as a stand-alone system, or as a confirmation for your own system. It's simple and accurate. I will not publish take profit or stop loss rules. These depend on your personal trading style.

Don't start asking for proof of the success of this system. It was successful, but everyone's trading style is different. Two people can trade on the exact same system and get completely different results. Some are more aggressive traders, some play with fear money, etc. If you're interested, then test it out and use it if the results are good. If you're not interested, find something that is.

I no longer frequent this site or many others, so if you have a question it may take me a while to get back to you. And I really don't see why there should be a problem since it's so simple and easy to understand.

I have published two templates. The first is that there is no window indicator, which is really the only chart you need. The second is with several window indicators.

The chart consists of LWMA and Bollinger Bands, and the two window indicators are MACD and CCI Channel. All of these prices are set to "open", which is my preference. I know most people like to use prices set to the close, but none of these indicators repaint - not during the candle or after the close. Wherever they are at the opening of the candle, they will stay.

Some settings may look a little strange. For example, there are two BBs on the chart, each with only 1 line. That's because I like the different colors of the two lines. Any and all weird setups could be causing my quirks.

Personally, I don't use window indicators that much - only when I feel I need more confirmation. Overbought or oversold MACD and/or CCI channels are additional confirmation. The main thing I look for on a CCI channel is whether the CCI line is OB or OS, and whether it is a purple line (short entry) or a green line (long entry) coming out of it.

The CCIchannel indicator has an alert and there are arrows on the chart, but I don't use them. You might want to do that, so I've also posted the original indicator with arrows. Just adjust the settings like I did for the indicator without the arrow.

Both window indicators I use belong to Mladen. As a side note, I want to thank him for everything he does to help people on this and other sites. He is more responsible than anyone else for my progress in this very difficult area of ​​trading. I have never seen a useless Mladen post.

There are two optional indicators on the chart - daily range and current spread. These indicators are also provided for you.

Another thing - I don't recommend everyone to trade when the chart is flat. But if you pay attention, you can still make some serious profits quickly.

Here are two templates:

Entry signal 1

https://charts.mql5.com/22/909/gbpjp...-division1.png

Entry signal 2

https://charts.mql5.com/22/909/gbpjp...ivision1-2.png

Signals for entries are as follows:
Buy – When the golden LWMA line moves away from the green BB line, it indicates a long entry. Sell – When the golden LWMA line moves away from the purple BB line, it indicates a short entry.

That's it. Yes, there are some false signals; no indicator is 100% perfect, but this entry signal is very accurate.

I use a 4 hour chart, but I'm sure you can adjust the indicator to use it on any time frame.

You are welcome to add indicators or try to improve the system. Personally, I'm happy with it the way it is, and I doubt I'd make any changes, but others may find some changes helpful.

God bless and happy trading.