Buy Sell Zone Indicator

Buy Sell zone indicator draw boxes that are support and resistance areas. The blue boxes are a support area. Red boxes are resistance areas.

How do you use this indicator?

Buy

When the price enters the support area, wait for the price to exit the area and place a pending purchase order 3 pips above the top edge of the box. The stop loss must be placed below the lower box side. The level of profit consists of the number of pips equal to the width of the box or on a level of pivots points.

Sell

When the price enters the resistance area wait for the price to exit the area and place a sales order pending 3 pips below the bottom edge of the box. The stop loss must be placed below the upper box side. The level of profit consists of the number of pips equal to the width of the box or on a level of pivots points.

Note: the price must penetrate at least until the middle of the box to have a valid signal.

Best time frame 30 min and H1. This is a day trading indicator.

Download MACD Buy and Sell zone indicator.zip
Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
Copy tpl file (Template) to your Metatrader Directory / templates /
Start or restart your Metatrader Client
Select Chart and Timeframe where you want to test your forex system
Right click on your trading chart and hover on “Template”
Move right to select Buy and Sell zone indicator.
You will see Buy and Sell zone indicator on your Chart.

 Download Buy Sell zone indicators and template.