Digits Comment indicator is a simple MT4 indicator which comments on entry and exit points. This indicator has four levels or lines: FATL, SATL and RSTL. You can choose from a variety of colors, including blue, steel and blue, dark violet and red. The largest line is the RSTL and contains dark violet color. The RFTL is represented by the red line. The RFTL is made up of blue color, and the SATL is made from steel blue. You can change the color settings in the indicator to make sure you are not confused about the steel blue and blue colors.
These lines are the key support levels and resistance levels. These lines will tell you where to buy and sell next. These lines can be used to detect BUY or SELL signals and traders can adjust their positions accordingly.
The Digits Comment indicator lines represent Moving Averages, but they don’t have any periods. They simply plot entry and exit points. The indicator can be used by traders on any timeframe. It’s best to use the indicator for longer timeframes as the Digits Comments Indicator can give false signals at lower timesframes.
The aud/USD H4 chart above shows the Digits_Comment indicator. The four lines in the upper left corner of the chart are what traders will need to see to determine the BUY or SELL signals. The indicator lists four levels in the upper left corner. These levels represent the current selling and buying point of the forex pair.
All four lines are different in color, as mentioned previously. The first line of the hierarchy is the blue FATL. This is the nearest level to the current price. It indicates the buying point when the price reaches the FATL level. Next is the steel blue SATL. The indicator predicts that the price will fall further towards the SATL level. Here, traders should be short.
The RSTL is the price at which the current price is the lowest. It also mentions the current selling price. The indicator states that if the price drops towards the level it can fall, traders should enter short. The last line is the red RFTL. This line is closest to the current price, after subtracting the FATL. The RFTL level is the most likely place for the price to go up. To enter or exit, traders need to be familiar with the four lines concept. FATL and RFTL refer to the buying point, whereas RSTL or SATL indicate the selling point.
The Digits Comment indicator for MT4 can be used to determine buying and selling levels. Traders can determine the entry and exit points by plotting four lines. You can also download the indicator free of charge from our website.