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Mouteki Indicator for MT4 Download – Free – [TradingFinder]

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MetaTrader4

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Mouteki Indicator for MT4 Download – Free – [TradingFinder]
Mouteki Indicator for MT4 Download – Free – [TradingFinder] 0
Mouteki Indicator for MT4 Download – Free – [TradingFinder] 1
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The Mouteki Indicator is designed to recognize historical price structures. This tool focuses on trendlines and market reversal points, visually highlighting areas where price has shown significant reaction.

The indicator draws two dynamic trendlines by connecting previous highs and lows. Additionally, it displays two horizontal lines representing key support and resistance levels.

One of its features is displaying information, such as UTDand LTD, at the top-left corner of the chart under the "Comment" section.

Mouteki Indicator Specifications Table

The technical specifications of the indicator are as follows:

Indicator Categories:
Support & Resistance MT4 Indicators
Trading Assist MT4 Indicators
Levels MT4 Indicators
Platforms:
MetaTrader 4 Indicators
Trading Skills:
Elementary
Indicator Types:
Breakout MT4 Indicators
Reversal MT4 Indicators
Timeframe:
Multi-Timeframe MT4 Indicators
Trading Style:
Day Trading MT4 Indicators
Scalper MT4 Indicators
Swing Trading MT4 Indicators
Trading Instruments:
Share Stocks MT4 Indicators
Indices Market MT4 Indicators
Commodity Market MT4 Indicators
Stock Market MT4 Indicators
Cryptocurrency MT4 Indicators
Forex MT4 Indicators

Mouteki Indicator at a Glance

During price movements, intersections or proximity to these lines can signal a shift in the market phase. As the price approaches these lines, traders can monitor the trend's reaction and act accordingly.

For better clarity, the Mouteki Indicator uses two distinct colors (red and green) for plotting lines on the chart.

Uptrend

Based on the NZD/USD currency pair chart in the 1-hour timeframe, the Mouteki Indicator plots an upward trendline in red.

As shown in the image, the price reacts to this line, providing an opportunity to enter buy trades.

Mouteki Indicator in an Uptrend
Analyzing an uptrend and identifying entry points for buy trades

Downtrend

According to the 15-minute timeframe chart of Ethereum (ETH), the price hits the downward dynamic trendline.

Additionally, it breaks the upward dynamic trendline (red), which could be a sign of a bearish tendency.

Downtrend Analysis
Downtrend line plotted by the Mouteki Indicator

Mouteki Indicator Settings

Adjustable settings in the Mouteki Indicator are shown in the following image:

Overview of the Settings Section
Exploring the fields related to Mouteki Indicator settings
  • AlertsOn: Enable alerts
  • Comments: Enable comment display
  • TrendLine: Show main trendline
  • TrendLineStyle: Trendline style
  • TrendLineWidth: Set trendline width
  • UpperTrendLineColour: Set the color of the upper trendline
  • LowerTrendLineColour: Set the color of the lower trendline
  • ProjectionLines: Enable projection lines
  • ProjectionLineStyle: Projection line style
  • ProjectionLinesWidth: Projection line width
  • UpperProjectionLineColour: The color of the upper projection line
  • LowerProjectionLineColour: The color of the lower projection line
  • HorizontLine: Enable horizontal lines

Conclusion

The Mouteki Indicator, relying on historical price highs and lows, automatically plots trendlines and support and resistance levels.

The goal of this trading tool is to identify high-reaction zones, such as trend continuation or structure breakouts.

Traders can analyze bullish or bearish scenarios based on the price's position relative to these lines to determine entry points.

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FAQs

Does the Mouteki Indicator provide entry signals?

No, this indicator does not issue any entry or exit signals.

Is this indicator only applicable to cryptocurrency charts?

No, this indicator can be used freely across all markets without limitation.

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