The Coron Forex Indicator is a practical oscillator on the MetaTrader 4 platform, designed for Forex traders. By combining this tool with trading strategies, traders can identify buy and sell signals for trade entries.
The indicator is built on a histogram structure:
- Yellow histogram: Range market condition
- Red histogram: Bullish trend
- Green histogram: Bearish trend
Coron Forex Indicator Table
Below, the information related to the Coron Forex Indicator is provided.
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Indicator Categories:
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Oscillators MT4 Indicators
Signal & Forecast MT4 Indicators
Trading Assist MT4 Indicators
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Platforms:
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MetaTrader 4 Indicators
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Trading Skills:
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Intermediate
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Indicator Types:
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Entry and Exit MT4 Indicators
Trend MT4 Indicators
Reversal MT4 Indicators
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Timeframe:
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Multi-Timeframe MT4 Indicators
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Trading Style:
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Day Trading MT4 Indicators
Intraday MT4 Indicators
Scalper MT4 Indicators
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Trading Instruments:
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Indices Market MT4 Indicators
Stock Market MT4 Indicators
Cryptocurrency MT4 Indicators
Forex MT4 Indicators
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Coron Forex Indicator at a Glance
The Coron Forex Indicator is a specialized tool for technical traders. When applied to charts and combined with other methods, it helps identify optimal trading setups.
The histogram colors indicate market phases, allowing traders to analyze price action more effectively:
- Yellow: Ranging market
- Red: Bullish phase
- Green: Bearish phase
Uptrend in the Coron Forex Indicator
On the 4-hour XAU/USD chart, the Coron Forex Indicator was applied. When the histogram is yellow, it indicates a ranging market. Once it switches to red, it signals the start of a bullish trend, providing a buy entry opportunity.
Downtrend in the Coron Forex Indicator
On the 4-hour USD/CHF chart, the Coron Forex Indicator identified a bearish trend. After the ranging phase (yellow histogram), the indicator turned green, signaling bearish market conditions. Traders can use this as a sell entry opportunity.
Coron Forex Indicator Settings
Below, the settings of the Coron Forex Indicator are provided:
- 0: Bullish color setting
- 1: Bearish color setting
- 2: Range market color setting
Note: This indicator does not require input settings. Once applied to any chart and timeframe, it automatically performs calculations.
Conclusion
The Coron Forex Indicator is a practical signaling oscillator that highlights three market phases: bullish, bearish, and ranging.
Forex and crypto traders can use this indicator to identify ranging conditions and, when trends begin, rely on its signals for buy and sell entries.
Coron Forex Indicator for MetaTrader 4 PDF
Coron Forex Indicator for MetaTrader 4 PDF
Click to download Coron Forex Indicator for MetaTrader 4 PDF
What is the Coron Forex Indicator?
It is a specialized oscillator in MetaTrader 4 that helps Forex and crypto traders identify bullish, bearish, and range market conditions, while generating buy and sell signals.
How is the Coron Forex Indicator displayed?
It is displayed as a colored histogram on the chart:
- Yellow histogram: Ranging market
- Red histogram: Bullish trend
- Green histogram: Bearish trend