Best Buy Sell Indicators for MT4 – Free SoftwareAnastasiia
Every forex trader constantly searches for the answer for this question. Whether the market is a Buy or Sell? Which direction should I enter the market? The buy side or sell side. The answer to this question opens the door to successful forex trading. Moreover, it provides results in multiple arenas.
No wonder, forex traders who find the answer to these questions will be financially sound. Though there are multiple methods to find whether the market is bullish or bearish. Technical analysis of the price charts is the best method to understand and analyze the markets.
The universal truth is that forex markets are volatile and are not for the vulnerable. So, it’s important to have sound knowledge about the trading instruments, technical analysis and the best tools. In this article we will discuss about some of the top indicators that provide buy and sell trading signals.
In fact, the indicators that we will be discussing will derive buy and sell trading signals from multiple methods. Though, all the indicators help forex traders to identify the bullish or bearish nature of the market. It also depends upon the trader’s ability to understand the underlying calculations and adapt according to their trading style.
Mostly, the trading signals are derived from indicators using momentum, volume, volatility and trend. However, they also incorporate multiple indicators like the ADX, RSI, Stochastic and Moving averages to deliver the trading signals. Additionally, some indicators identify the trend and provide buy and sell signals accordingly.
Let us now look at these best buy sell indicators and understand the technical trading strategies behind them. Most of these indicators can be automated and form part of many auto trading strategies.
Best Buy Sell Signal Software
- Half Trend Buy Sell Indicator
- Buy Sell Magic Indicator
- ADX Buy Sell Indicator
- Buy-Sell Volume Indicator
- Buy Sell Signal Indicator
- Forex Buy Sell Indicator
- SM Buy Sell Pressure Indicator
- Arrow Buy Sell Indicator
- Buy Sell Magic Indicator
Half Trend Buy Sell Indicator
Let’s now look at the first indicator in this list of best buy sell indicators for MT4. The half trend buy sell indicator is the best trend following MetaTrader indicator. This indicator is best suited for trend following traders who primarily apply trend following trading strategies to identify the bullish and bearish market conditions.
This indicator provides the traders with three different market conditions, the bullish, bearish and flat markets. As a result, traders can stay on the sidelines during flat or non trending market conditions and save their bullets for a trending market.
A steeper upward slope of the indicator shows the presence of bullish market trend, while a steep downward slope indicates a bearish price trend. In such conditions it’s pretty easy for any trader to ride the trend. Moreover, the indicator provides simple arrows on the price chart and alerts the traders for a buy or sell trading signal.
Most importantly, the indicator does not repaint after the candle has closed. However, aggressive forex trend followers can get trading signals for the current candle too. This trend following MetaTrader indicator uses the moving average to derive the trading signals.
For best results, traders should use support and resistance, trend lines and channels to confirm the trading signals of this indicator.
Buy Sell Magic Indicator
The second indicator on the list of our indicators is the buy sell magic indicator. This MT4 indicator is best at identifying the trend reversal points. So, forex traders can enter the market with a buy or sell position right at the beginning of a new trend. Another important feature of this indicator is that it automatically provides stop loss for every buy and sell trading signal.
This indicator is best suitable for traders looking for trend exhaustion to identify an exit point. In fact, the indicator provides two different types of stop loss points. The first stop loss point is provided as the indicator alerts a new trading signal.
Many traders move stop loss as the market advances in their favor. This can be done as a trailing stop loss or a moving stop at fixed intervals. The indicator provides a second stop loss that acts as resistance or support line based on the market condition and moves along the price movement. As a result, the indicator provides as a trailing stop loss level and helps traders identify the best trailing stop loss level.
The indicator provides best results on the intraday time frames higher than M15. Though it works well in the lower time frames it provides frequent trading signals.
ADX Buy Sell Indicator
Let’s now look discuss about the next indicator on the list of top buy and sell MetaTrader indicators list. The ADX buy sell indicator is based on the classic MT4 indicator ADX – Average Directional Movement Index. ADX is widely accepted by traders as the indicator to measure the trend strength.
The indicator derives the buy and sell trading signals based on the crossover of the ADX indicator lines over a pre defined period. Forex traders can custom input the period in the indicator settings. The ADX indicator does not repaint. Since the indicator derives the trading signals from the ADX indicator the ADX buy sell indicator signals also does not repaint.
The trading signals of this indicator are a simple up or down arrows based on the bullish or bearish market conditions. ADX defines the momentum of the price trend. Indeed price movements without momentum may not lead to a trending market.
So, forex traders can use this indicator and benefit from the best buy sell trading signals using the ADX.
Buy-Sell Volume Indicator
We will now look into the fourth indicator of our list of best buy sell MT4 indicators. The Buy Sell Volume indicator is an interesting indicator for forex traders using volume based trading strategies. Volume is often neglected by many forex traders. But, volumes are excellent indicators of price breakout. So, it’s also an interesting indicator for traders using breakout trading strategies.
Generally, traders will agree that strength of the bulls and bears in the market is often decided by the volume associated with it. So, volume is a key factor to understand the bearish and bullish strength. Since, identifying the trend direction will help the trader to identify the best entry point, it is essential to understand the volume associated with a price move.
The indicator does not provide arrow signals directly on the price chart. Instead the indicator plots the bullish and bearish volumes as lines in a separate indicator window. So, traders can identify the strength of the buyers and sellers using the volumes and trade accordingly.
Whenever a support or resistance is broken, traders look at the volumes to identify if the breakout is false. Or is it strong enough to provide a sustained breakout that could result in a new trend. Generally, breakouts with good trading volumes often produce rewarding trade setups.
So, this indicator is best suitable for traders using volumes to identify the trend. Also, it works good for the traders using breakout trading strategies.
Buy Sell Signal Indicator
We have now reached half of the indicator list and let’s continue to look at the fifth best buy sell indicator. The buy sell signal indicator for MT4 is a momentum based indicator and provides buy sell arrow signals. So, forex traders using momentum trading strategies will find this indicator as an effective trading tool.
In fact price movement without any underlying momentum may not produce best trading results. Often this leads to false breakouts where forex traders enter the markets with a buy or sell position. However, they are stopped out because of the lack of price momentum. So, it is essential to identify if there is enough momentum.
The buy sell signal indicator for MT4 provides forex signals by filtering them against the momentum. The indicator provides signals and helps traders identify potential reversal points. Once the indicator identifies the presence of a bullish or bearish momentum it provides an up or down arrow based on the direction.
Moreover, the indicator provides alerts and helps the forex traders to focus on trading. The indicator works well during a trending market, but provides frequent signals during ranging or non trending markets. So, traders should confirm the trading signals with other indicators.
Forex Buy Sell Indicator
Below we will discuss the sixth indicator for the list of best buy sell indicators. This MT4 indicator is best suitable for multi time frame (mtf) trading strategies. Most trend based forex traders tend to stay in the direction of the higher time frame, while entering the markets using a lower time frame chart.
This enables them to stay in the trend direction while frequently entering and exiting the market in a lower time frame often with multiple trades. As a result, multi time frame traders benefit from multiple trades from a large trend movement. This trading strategy helps traders to derive maximum profits once a trend is identified in a higher time frame chart.
Forex traders can formulate multi time frame trading strategy using any combination of price charts. This strategy is useful for all different types of traders including scalpers and short term traders. The indicator provides up or down arrow trading signal based on the trend direction.
Both new and advanced forex traders can use the forex buy sell indicator and execute the trading signals successfully.
SM Buy Sell Pressure Indicator
We will now discuss about the seventh indicator in our list of best buy sell MT4 indicators. The SM buy sell pressure indicator is an oscillator and produces buy sell forex trading signals based on overbought and oversold conditions. Furthermore, it indicates three different market conditions namely flat market condition, oversold and overbought condition.
Most traders have multiple trading strategies and apply them according to the market condition. The identification of the three different market conditions itself is a boon for forex traders. The proper identification of the market trend helps forex traders to prepare entry and exit strategies accordingly.
Trading overbought and oversold market conditions also brings up the possibility of divergence trading. Generally, oscillators that provide oversold and overbought conditions provide the best divergence trading setups.
SM buy sell pressure indicator provides positive and negative oscillator values from the zero line. While the values around the zero line indicate a flat market trend, the upper and lower levels provide the best trading opportunity.
A reversal from the overbought conditions warrants a sell trade, while the oversold conditions are best suitable for a buy trade. The indicator plots up and down arrows on the oscillator window and provide buy and sell trading signals.
In summary, the indicator is best suitable for overbought and oversold trading and divergence trading.
Arrow Buy Sell Indicator
We are now approaching the end of our list of best buy sell MetaTrader indicators. The arrow buy sell indicator provide trend following forex trading signals. The indicator automatically scans for bullish or bearish market conditions and provide up or down arrow trading signals based on the market conditions.
The arrow buy sell indicator for MT4 provides trend reversal signals also. As a result, forex traders can identify the best trading signals to enter and exit the market. Additionally, the indicator provides sound alerts upon an arrow trading signal.
Like all trend following indicators this also provides best trading signals on higher time frame price charts. However, lower time frame charts produce frequent signals and thereby include many false bullish and bearish signals. So, it is recommended to use higher time frames.
The arrow buy sell indicator is suitable for multi time frame forex trading. As the indicator works its best time frames, traders can ignore the opposite trading signals of the lower time frame charts. The simplicity of the indicator without any confusing histograms, bars or lines makes it easy for new forex traders to follow.
However, traders should confirm the signals of this trend following indicator using other indicators or chart patterns.
Buy Sell Magic Indicator
We have now reached the final indicator in this list of the best buy sell indicators for MT4. This buy sell magic indicator works perfectly to identify trend reversals. Additionally, it is a good trend following indicator. So, forex traders can use the indicator to identify the best entry point and ride the trend to maximize the benefits.
The primary task of the forex trend trader is to search for the beginning of a trend so that they can enter the market right in the beginning for the trend. The next task is to ride the trend all the way till its end. In this process they can benefit from the complete trend movement. The final task is to identify the trend weakness and a reversal of trend direction.
The buy sell magic MT4 indicator provides the forex trend traders with all the necessary entry, exit and trend following. The indicator stays above the price during a bearish market condition. While, the indicator stays below the price in a bullish market.
The continuous movement of the indicator according to the price movements provides the best trailing stop level. As a result, traders can ride the trend till its ends using this indicator.
In summary, the indicator provides trend traders with best entry point, trailing stop levels and exit point.
As discussed above, the list of the best buy sell indicator for MT4 indicators provides multiple trading methods and technical strategies. Definitely, applying all of these indicators in tandem will only increase the chaos. So, forex traders should apply them and practice them to identify indicators that align with their own personality and trading straits.
As always forex trading must be accompanied with best risk management practices. So, traders should apply these indicators with sound risk management strategies for best results.