The most important thing to understand about the Boxes Indicator For MT4 is that it should be used in a trending market. Traders using this indicator should consider that a secondary indicator to determine whether a market is trending, or range-bound can be quite useful. (It’s not that uncommon to see this indicator used in conjunction with a moving average for example.)
Originally, Box looked for Forex that was trading in a narrow price range and had a new low price that had held for three consecutive days. However, this can be used on any timeframe although as with most things technical analysis related, the higher the timeframe the more reliable the signal. At the top of the box, he drew a line that represented the highest price that the security reached in the previous move that had also held for at least three days. Just below is an example of the Boxes Indicator For MT4 on the USD/CHF currency pair.
As a general rule, Box would use these boxes as a sign of breaking out of consolidation in a larger long-term trend. However, the Boxes Indicator For MT4 has been modified in order to show both buy and sell signals. In other words, a low that holds for three consecutive days and then gets broken below is in fact a sell signal. You will notice that there is nothing in this indicator to suggest where and when you should take profits. In that sense, it is a slightly unfinished indicator and is almost always to be used with something else.
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- Non-repaint Indicator and accuracy 95%+
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- It’s named “NON-REPAINT BOX MT4 INDICATOR”
- This indicator is very easy to use for beginners and fully automatic.
It will never expire and there are NO “monthly fees”
or NO any other recurring charges for use
File type and requirements:-
This is a digital item! (Download links–zip file)
You will Need: MT4 terminal
This file you’ll get is a ZIP archive.
HOW TO USE:-
FOR SELL ENTRY:-
- Red Box made after take instantly Sell entry.
- Close your entry when made bottom green Box.
FOR BUY ENTRY:-
- Green Box made after take instantly Buy entry.
- Close your entry when made top Red Box.
This Indicator M30 and H1 time frame is Best working.
You can set up TP and SL. TP will be 50-60 pips and SL 20 pips.