SSL Channel Chart Alert Indicator for MetaTrader 4 Download – Free – [TFlab]

The SSL Channel Chart Alert Indicator is one of the MetaTrader 4 indicators, designed based on a combination of Moving Averages (MA).

This indicator consists of two Moving Average lines (green and red) calculated based on Highs and Lows.

SSL Channel Chart Alert Indicator Specifications

The table below summarizes the key features of the SSL Channel Chart Alert Indicator.

Indicator Overview

The SSL Channel Chart Alert Indicator generates buy and sell signals based on the crossovers of its Moving Average lines. When the green line crosses above the red line, it signals a buy. Conversely, when the green line crosses below the red line, it indicates a sell.

Additionally, these lines serve as dynamic support and resistance zones.

Bullish Market Scenario

To initiate a buy trade, the green line must cross above the red line. For example, in the AUD/USD currency pair chart, after this crossover, an uptrend formed, leading to a significant price increase.

Bearish Market Scenario

The following image shows the 5-minute chart of the EUR/USD currency pair. To execute a sell trade, the green line must cross below the red line.

After this crossover, traders enter sell positions and set their stop-losses above key levels to manage risk.

Indicator Settings

The image below displays the settings panel for the SSL Channel Chart Alert Indicator:

• MA Period: Define the calculation period
• Alert: Enable signal detection alerts
• Alert Message: Set a custom message for alerts
• Alert Sound: Choose a sound alert for signals
• Alert Email: Enable email alerts for signal notifications

Conclusion

The SSL Channel Chart Alert Indicator, as one of the trading assist indicators MetaTrader 4, is widely used for identifying entry and exit zones using two Moving Averages (green and red).