Execute Line Forex Indicator is a trend following indicator which is very popular among beginner and experienced traders. It is popular because of the accuracy rate of the signals it provides. It works very well in a trending market conditions and it may perform very poorly in a sideways market. This indicator can be used across various forex pairs and multiple time frames.
When you install Execute Line Indicator in your trading platform, your chart should look like this:
Execute Line Indicator is a custom made moving average which changes its color as per the trend of the market. When Execute Line Indicator is green, it is a buy signal and when this indicator is pink, it’s a sell signal. This is a moving average indicator with little different algorithms.
Buying Conditions Using Execute Line Indicator.
Forex pair should be up trending.
Fore pair should be bouncing from the recent support level.
Execute Line indicator should be green.
Place your long position when all of the above conditions are met.
Place your stop loss just below the recent swing low.
Take your profit when Execute Line Indicator turns pink.
Selling Conditions Using Execute Line Indicator.
Forex pair should be down trending.
Fore pair should be retracing from the recent resistance level.
Execute Line indicator should be pink.
Place your short position when all of the above conditions are met.
Place your stop loss just above the recent swing high.
Take your profit when Execute Line Indicator turns green.
Forex Indicators Download – Instructions
Execute Line Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Execute Line Forex Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
Do the same with template file (.tpl), if there is any, at File/Open Data Folder/templates.
How to install Execute Line Forex Indicator.mq4?
- Download Execute Line Forex Indicator.mq4
- Copy Execute Line Forex Indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Execute Line Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Execute Line Forex Indicator.mq4 is available on your Chart
How to remove Execute Line Forex Indicator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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