Super Signals Indicator for MT4

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Super Signals Indicator

Introduction to the Super Signals Indicator

Short momentum reversals and pulses often create market swings. These are basically the short momentum reversals which often form swing highs and swing lows. The Super Signals Indicator is an indicator which identifies these swing highs and swing lows and provides reversal signals using these price points.

What is the Super Signals Indicator?

The Super Signals Indicator is a trend following technical indicator which identifies swing highs and swing lows. It also provides momentum reversal signals based on price swings.

This indicator plots arrows pointing the direction of the price swing whenever it detects a momentum reversal. It plots an arrow pointing up whenever it detects a bullish price swing and an arrow pointing down whenever it detects a bearish price swing.

Super Signals Indicator for MT4

How the Super Signals Indicator Works?

The Super Signals Indicator has an algorithm which identifies swing highs and swing lows. These swing highs and swing lows do tend to coincide with the swing highs and swing lows of a zigzag indicator. The swing points it also identifies also has some resemblance with fractal patterns. However, this indicator does tend to have significant spacing between reversal signals because it includes a signal gap between swing points as part of its algorithm.

How to use the Super Signals Indicator for MT4

This indicator includes a mechanism to adjust the frequency of reversal signals the indicator would detect.

The “SignalGap” variable allows users to determine the minimum spacing between reversal signals that the indicator would identify.

How the Super Signals Indicator Works

This indicator has several applications.

Its main purpose was to provide reversal signals which are indicated by the reversal arrows. However, this can sometimes be lagging due to its method of identifying market swings.

Traders can also use the arrows to identify swing highs and swing lows which can then be a basis for horizontal supports and resistances or supply and demand zones.

The swing points indicated by the arrows can also be used as a basis for trailing stop losses based on price action, especially during trending markets.

Buy Trade Setup

When to Enter?

In a ranging market, mark the area of a swing low as the area of a support zone. Open a buy order as soon as price action shows signs of a bullish reversal as it touches the support zone. Set the stop loss below the support zone.

When to Exit?

Set the take profit target on the opposite resistance zone.

How to use the Super Signals Indicator for MT4 - Buy Trade

Sell Trade Setup

When to Enter?

In a ranging market, mark the area of a swing high as the area of a resistance zone. Open a sell order as soon as price action shows signs of a bearish reversal as it touches the resistance zone. Set the stop loss above the resistance zone.

When to Exit?

Set the take profit target on the opposite support zone.

How to use the Super Signals Indicator for MT4 - Sell Trade

Conclusion

Although this indicator was developed to provide momentum reversal signals, it has many other uses aside from this. The technique above is a common trading strategy for supply and demand traders or market flow traders trading on ranging markets. This indicator simplified the process of identifying the support and resistance areas by providing the swing highs and swing lows. Aside from the technique above, there are still many more uses wherein this indicator can be applied to.

MT4 Indicators – Download Instructions

Super Signals Indicator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.

Super Signals Indicator for MT4 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. Click here for MT4 Strategies

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How to install Super Signals Indicator for MT4.mq4?

  • Download Super Signals Indicator for MT4.mq4
  • Copy Super Signals Indicator for MT4.mq4 to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader 4 Client
  • Select Chart and Timeframe where you want to test your MT4 indicators
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
  • Right click on Super Signals Indicator for MT4.mq4
  • Attach to a chart
  • Modify settings or press ok
  • Indicator Super Signals Indicator for MT4.mq4 is available on your Chart

How to remove Super Signals Indicator for MT4.mq4 from your Metatrader Chart?

  • Select the Chart where is the Indicator running in your Metatrader 4 Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

Super Signals Indicator for MT4 (Free Download)

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