MT4 indicator (SweetSpots.mq4)



Forex MT4 indicator SweetSpots Download indicator: SweetSpots.mq4

How to trade with SweetSpots indicator


the name of the indicator suggests that there are certain price levels, which carry more importance than others. These are so called "round price levels", which end on 00, 50, 25 etc. For example, 1.4000, 1.4400, 1.4450.

For the Forex market & its participant such price levels carry additional meaning, similar to steps or pivotal points where passing through each step adds a new value. Therefore more often than not the market will stop at round price levels to re-think & re-test prices before moving further.

Arrows on the chart below show examples of sensitivity of the price to sweetspot levels.

Forex MT4 indicator SweetSpots

In the settings window, you'll be able to change the step value (sublevels). The default is 25 pips (250 for 5 decimal price charts). while trading, remember that "00" are always much stronger than "50" or "25".

Forex MT4 indicator SweetSpots

Use this indicator as a guidance to a better mapping of Support/Resistance levels on the chart.
Next time you draw Support/Resistance lines, if they coincide with round price levels, especially "00", you have got a perfect S/R level to work with!




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Comments


wow..... this is what Boris Schlossberg has discussed on youtube: 'run for the 00's'.

 

how do i download this indicator

 

Right click + Save link as.. or Save target as..

 

I like this indicator but I cannot download because it appears in MetatEditor and difficult to attach to my Mt4

 

please sir i love thise indicator i have downloaded it but it seem so difficult to copy am using mt4 please sir i need your help step by step sir

 

I have MT4 on my desktop for a quick start. How I do it is I don't start MT4, but right click on the link, then choose open file location, this brings up a list of everything that's in MT4, click on the experts folder which opens up another list one of which is indicators, click on that one to see the list of indicators you have in MT4. it is a simple matter of dragging the new indicator (this one being SweetSpots.mq4) into the list. What I do is save the downloaded indicator to my desktop for easy finding. I have the indicator list reduced in size so I can see some of the desktop including the file I want to use. Click and drag the download into the list, close the list and restart MT4, the indicator is then found in indicators on the navigater panel and added to my chart in the usual way. Easy Peasy

 

sorry I meant it's in custom indicators on the navigator panel. Kevin