MetaTrader’s Momentum Reversal Detector indicator is the best indicator for momentum traders, divergence traders and forex trend traders.
Forex traders can use the Momentum Reversal Indicator for MT4 to pinpoint reversal points. It also shows the most important reversal points where the market may change its trend.
It also monitors momentum levels over a longer time frame and displays them in a bar chart. This allows traders to identify the best entry points in shorter time frames and still follow momentum in longer time frames.
The indicator can also detect divergences. The indicator displays information from the histogram and looks for deviations in the current and higher time frames.
Histograms can be used by traders to interpret and apply information in a variety of ways. The Momentum Reversal Detector indicator displays changes in the signal as bars on a histogram. Forex traders can use the black bar chart bars to decide whether they want to buy or sell.
Momentum Reversal Detector Buy/Sell Signals
Momentum reversal based buy signals and sell signals. To identify changes in the trend, the indicator shows a black bar in its bar chart. This allows traders to identify the top or bottom of the trend and can enter early.
If it detects positive momentum within a higher time frame chart, the background color of the Momentum Reversal Detector indicator (MT4) changes from PaleGreen to PaleGreen.
The change in the background color of the indicator window indicates a divergence within a longer time frame. Magenta is an upward divergence and lime is a downward divergence.
This MT4 indicator uses dots to show the indicator’s levels and zeros. It is easy to download and install. It is an ideal tool for trading divergences. It changes color when it detects momentum and divergence in a higher time frame. It is a great tool for intraday and swing traders, as well as experienced traders.
Summary
The Momentum Reversal indicator for MetaTrader allows Forex traders to approach the market in a variety of ways. The indicator’s ability to identify key intra-day points in terms of momentum reversals and trend reversals makes it the best MT4 indicator for forex traders.
