The Market Reversal Indicator for MT4 spots potential trend reversals by highlighting key changes in market structure, showing you clear trend reversal points on your chart. With its non-repainting BUY/SELL signals and convenient all-in-one dashboard, this tool helps you make timely trading decisions and identify high-probability entry and exit points with greater confidence.
If you’re looking for an indicator that helps you spot potential market turnarounds, the Market Reversal Indicator might be just what you need. This tool is designed to give you a heads-up when a price trend might be running out of steam and could be about to change direction.
Indicator Description
The Market Reversal Indicator is a technical analysis tool built for MT4. Its main job is to signal when a current price movement seems to be losing momentum and could be about to reverse. It achieves this by highlighting those crucial changes in market structure.
The Market Reversal Indicator consists of two parts: an all-in-one dashboard that displays all detected patterns in a single panel, making it easy to track everything and make decisions and BUY/SELL arrows right on the chart.
Here are some of the standout features:
- No Repainting Signals: Once a signal appears on your chart, it stays put. This is super helpful for reviewing past performance or testing out your trading strategies.
- Detects Reversals and Continuations: It doesn’t just look for reversals; it can also spot points where an ongoing trend might continue, giving you more flexible trade setups.
- Scans All Pairs and Timeframes: The indicator can automatically check for signals across every currency pair and timeframe you have in your MT4, which can save you a lot of time and effort.
- Smart Analysis: It often combines price action analysis with its own timing algorithms to help improve the accuracy of the patterns it detects.
- Clear Buy/Sell Alerts: You’ll see exact points on the chart where the indicator has spotted a potential move, clearly labeled as “Buy” or “Sell”.
- Multiple Alert Types: Get notified immediately with audio, visual, and pop-up alerts, so you don’t miss a signal even if you’re not actively watching the chart. This means you don’t have to stare at charts all day and can monitor multiple charts at once.
- Versatile Use: You can use this indicator on any Forex currency pair and even other assets like stocks, commodities, cryptocurrencies, precious metals, oil, and gas.
- Any Timeframe: It’s adaptable to any timeframe that suits your trading style, from 1-minute charts all the way up to 1-month charts.
- Beginner-Friendly: The Market Reversal Indicator is designed to be straightforward, so even if you’re new to trading, you should be able to understand and use it.
Market Reversal Indicator Installation
1. Unzip the file you’ve downloaded.
2. Find the file that is called “Market Reversal Indicator.ex4″ and copy it.
3. Open your MT4.
4. Go to “File – Open Data Folder – MQL4”.
5. Paste the file into the “Indicators” folder in MQL4.
6. Restart your MT4.
Basic Trading Signals
The Market Reversal Indicator can give you trading signals that you might act on directly, but it’s generally recommended to use them in conjunction with your own chart analysis to filter them further.
Buy Signal
- Entry Signal: Look for a “Buy” signal generated by the indicator, indicated by an arrow and a highlighted zone.
- Verification:
- Past Price Levels: Before placing a buy trade, check for significant support levels, or previous demand zones, that align with the reversal signal.
- Higher Timeframes: Consulting higher timeframe charts for confirming support levels can add validity to the buy signal.
- Trade Direction: If your analysis supports the signal, place a trade in the direction of the indicated bullish reversal.
Sell Signal
- Entry Signal: Look for a “Sell” signal from the indicator, shown with an arrow and a highlighted zone.
- Verification:
- Past Price Levels: Before executing a sell trade, identify any key resistance levels, or prior supply zones, that coincide with the reversal signal.
- Higher Timeframes: Check higher timeframe charts for corresponding resistance levels to further validate the sell signal.
- Trade Direction: If your analysis aligns, enter a trade in the direction of the indicated bearish reversal.
StopLoss and TakeProfit
- StopLoss Placement: To manage your risk, set your stoploss just above the most recent high for a sell trade, or just below the most recent low for a buy trade. The indicator’s focus on market structure shifts can help in placing these effectively.
- TakeProfit Targets: Your take profit levels will depend on your trading style and risk tolerance. However, aiming for a risk-to-reward ratio like 1.5:1 or 2:1 is often achievable. You might also manage multiple trades or adjust positions as new signals or market information comes in.
My Conclusion on the Market Reversal Indicator
The Market Reversal Indicator for MT4 can be a very helpful tool for traders looking to identify potential trend changes and even continuations. With features like its non-repainting signals, multi-timeframe scanning capabilities, and a clear dashboard, it’s designed to support more efficient trade analysis and quicker decision-making.
By alerting you to potential shifts in market structure, especially near exhaustion points, it aims to empower you to make more informed trading choices. When used sensibly and alongside good risk management practices, the Market Reversal Indicator can be a valuable addition to many trading strategies, enhancing your ability to navigate the dynamic Forex market.
P.S. Have problems with installation? Email me at olivermurphy@altraforex.com or support@altraforex.com
I would love to help!
P.P.S. Check out software by Altra Forex Group here
