SSL CHANNEL CHART ALERT INDICATOR MT4

• SSL Channel Chart Alert indicator best MT4 forex trading indicator. Shows BULLISH and BEARISH trend direction and BUY and SELL signals. Free to Download 

The SSL Channel Chart Alert Indicator for MT4 is a combination of moving averages. The SSL stands for Semaphore Signal Level and provides visual BUY and SELL trading signals. The indicator provides BULLISH and BEARISH trend signals upon the crossover of the indicator lines. Forex traders using trend trading technical strategy will find it very beneficial.

• The indicator does not repaint; as a result, new forex traders can use the indicator to get alerts on the crossover of the indicator lines. Furthermore, the BUY and SELL signals are simple to interpret. While the trend signals assist in understanding the BULLISH and BEARISH market conditions. Advanced forex traders can combine other momentum indicators or oscillators to confirm the trading signals and trade with confluence.

SSL Channel Chart Alert Indicator For MT4 Trading Signals

• The above GBPUSD H4 chart shows the SSL Channel Chart Alert Indicator for MT4 in action. The indicator shows the BULLISH and BEARISH trends in RED and GREEN lines.

Forex technical traders can place a BUY position once the GREEN line crosses over the RED line upwards. The best stop loss for this position is the previous swing low, while the profit target is the opposite trading signal.

• In this technical trading strategy, the crossover of the GREEN line below the RED line indicates a BEARISH trend. As a result forex traders can place a SELL trade with a stop loss at the previous swing high. While the profit target is at the opposite signal or if a good risk-reward ratio is achieved.
• The SSL Channel Chart Alert Indicator for MT4 can be applied to all intraday timeframes and long-term timeframes like the daily, weekly, and monthly charts. However, the signals in the lower timeframe are frequent and may not signal a trend. So forex traders must use this technical trading strategy to filter the trading signals generated in a lower timeframe chart.

For best forex trading results, traders can use the multi-timeframe (mtf) and trade using a top-down approach. The higher timeframe charts are used by the forex trader to identify the bigger trend, while the lower time frames zero in the best entry points. Furthermore, forex traders should be cautious about the support zones or resistance lines and existing trendline channels in proximity.

Conclusion

• The SSL Channel Chart Alert Indicator for MT4 is a non-repaint MetaTrader indicator based on moving averages. The indicator produces an alert signal upon the BULLISH and BEARISH trend changes. As a result, forex traders can trade the BUY and SELL signals with ease and use in auto trading forex strategies. However, for best results, forex technical traders should combine other technical indicators.