My Price Action Forex Indicator MT4 Free Download My Price Action Forex Indicator MT4 Free Download

EAcpu | 2 reads | 0 comments | 2026-05-09

My Price Action Forex Indicator MT4 is a custom forex indicator designed to indicate important candlesticks where significant price changes are expected. This indicator provides various chart indications. First, it represents the color arrows above and below the candlesticks on the chart. The color of the arrow also shows price movement.

However, the color arrow indication cannot be used as an independent buy or sell entry signal. Before using them in your trading, you may need to fully understand the various indicators and how to use them.

How does my Price Action Forex indicator work?

The key principle of Forex indicators is based on the shadow of a candle. You'll know this when a chart candle has a shadow below or above it. It makes it easier to spot selling or buying pressure in a specific situation.

For example, you'll see a long shadow below the chart. This means buying pressure is increasing. In this case, you can look for long entry opportunities.

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Trade with my Forex Indicators MT4

Buy Trade

Set a 4 hour chart time limit.
Enter 25 for the hightwick2 value and 50 for the hightwick1 value.
Set the lowtwick2 and lowtwick1 values to 25 and 50 respectively.
Watch for price consolidation areas on the chart.
Look for the chart candle with the pink arrow and label NLB.
When you see the green arrow with label NLS at the top of the chart candle, place your stop loss (SL) below the shadow and exit the long entry.

Sell setup

Set a time limit of 4 hours.
Enter 25 for the hightwick2 value and 50 for the hightwick1 value
Set the lowtwick1 and lowtwick2 values to 50 and 25 respectively.
Watch for price consolidation areas on the chart.
Look for candles with the NLS label and a green arrow above them.
When you see the pink arrow with label NLS below the candle, place your stop loss (SL) above the shadow and exit the short position.

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Conclusion

My Price Action Forex Indicator for MT4 can help you identify selling or buying pressure. Like any technical indicator, it reduces the amount of work you have to do to find patterns manually, but you can't rely solely on it. You may want to use a confirmation tool or backtest the tool before using a live trading account.