MetaTrader 4 Forex MTN Indicator – Free | Forex Indicator Download – MT4/MT5 Resource

On July 6, 2025, in version 2, the indicator added alerts/notifications and signals functionality

The Forex MTN Indicator is a technical analysis tool based on momentum used on the MetaTrader 4 platform. It identifies overbought and oversold and divides market areas by measuring the strength and weakness of momentum.

The indicator consists of a generated histogram of buy and sell signals using blue and red dots , respectively.

Forex MTN indicator specification table

The key specifications of Forex MTN Indicator are detailed in the table below:

Indicators at a glance

The Forex MTN Indicator consists of a histogram that graphically displays the strength and direction of price momentum.

When momentum reaches extreme levels, the indicator becomes problematic entry alerts via colored dots:

• +24 : Indicates entering the overbought zone with red dots
• −24 : Indicates enters oversold zone with blue dots

Uptrend Conditions

In the chart below, Bitcoin (BTCUSD) is shown in the 4-hour timeframe . When prices are in an uptrend and the MTN histogram enters the oversold zone (−24 level) , it signals weak selling momentum .

If a blue dot appears below the bar at the same time, it is considered a buy signal .

downtrend conditions

The chart below shows the EUR/AUD currency pair in the 1-hour timeframe .

When prices are in a downtrend, the histogram enters the overbought zone , and red dots appear above the bars , which suggests a favorable condition for entering a sell trade .

Conclusion

The Forex MTN Indicator operates without any input settings and is purely based on signaling momentum behavior and overbought/oversold levels .

Trading signals are triggered when the histogram crosses overbought or oversold thresholds.