Forex MTN Indicator for MetaTrader 4 – Free – [TradingFinder]

The Forex MTN Indicator is a momentum-based technical analysis tool used on the MetaTrader 4 platform. It identifies overbought and oversold zones in the market by measuring the strengths and weaknesses of momentum.

This indicator consists of histograms that generate buy and sell signals using blue and red dots, respectively.

Forex MTN Indicator Specifications Table

The key specifications of the Forex MTN Indicator are detailed in the table below:

Indicator at a Glance

The Forex MTN Indicator is composed of histograms that graphically display the intensity and direction of price momentum.

When momentum reaches extreme levels, the indicator issues entry alerts via colored dots:

• +24: Indicates entry into the overbought zone with red dots
• −24: Indicates entry into the oversold zone with blue dots

Uptrend Conditions

In the chart below, Bitcoin (BTCUSD) is shown in the 4-hour timeframe. When the price is in an uptrend, and the MTN histogram bars enter the oversold zone (−24 level), it signals a weakness in selling momentum.

If a blue dot simultaneously appears below the bars, it is considered a buy signal.

Downtrend Conditions

The following chart shows the EUR/AUD currency pair in the 1-hour timeframe.

When the price is in a downtrend, the histogram bars enter the overbought zone, and red dots appear above the bars, which suggests a favorable condition for entering sell trades.

Conclusion

The Forex MTN Indicator operates without any input settings, and issues signals purely based on momentum behavior and overbought/oversold levels.

Trading signals are triggered when the histogram crosses the overbought or oversold thresholds.