The Prodigy Day Trading Indicator for MT4 is a must-have indicator for anyone who wants to identify trend reversals accurately. This indicator gives market entries and exits by detecting major and minor pullbacks. Focusing on short and medium market trends ensures you have the right buy and sell signals at your fingertips.
Indicator Description
The Prodigy Day Trading Indicator is easy to use, showing buy and sell signals that are simple to understand. When the market is going up, it shows a blue line; when there’s a downtrend, it shows a magenta line. For major pullbacks, you’ll see green arrows for buying and red arrows for selling. If the market is making smaller pullbacks, it shows dark golden arrows, which helps to spot short-term trade opportunities.
Prodigy Day Trading Indicator Installation
1. Unzip the file you’ve downloaded.
2. Find the file that is called “Prodigy day trading.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.
After the installation, your trading chart will look like this:
Basic Trading Signals
Buy Signal
When the indicator shows a blue line and a green up arrow, it’s a clear signal to buy. This combination means that the market is strong but undergoing a temporary pullback. The green arrow emphasizes this pullback, which gives you a good entry point for the upward trend. As a trader, you can confidently enter a buy position when these signals align.
Sell Signal
A red down arrow indicates a sell signal in a bearish trend (marked by a magenta line). This means the market is in a downward trend, and the red arrow points to a significant pullback. Traders should take this as a sign to enter a sell position, as the market is likely to continue falling after the pullback.
Minor Pullback Signals
If you see dark golden arrows, whether the line is blue or magenta, it means that there’s a minor pullback. These signals are excellent for traders looking for shorter trades. Even though these pullbacks are smaller, they can still offer profitable entry points for quick trades in both directions.
My Conclusion on Prodigy Day Trading Indicator
The Prodigy Day Trading Indicator for MT4 is a great tool for spotting both big and small market movements. It gives clear and reliable signals that make it easy for traders to understand when to enter or exit a trade. The indicator is smart enough to show when the market is making a major pullback (bigger reversal) or just a minor pullback (smaller correction).
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
The insights on day trading strategies are priceless.
Hi good morning
Thank you so much with the indicator, I hope I will recover from my loses. Do you also do trading robots, if so may you kindly share one,
Keep up the good work
Mike tafira
Hello
I downloaded Prodigy for MT4. I see the indicator on my MT4 expert market list, but it isn’t applied to the chart.
Something is wrong.
Best regards