A solid exit plan is one of the most important parts of trading. Some traders identify excellent trade entry points and profit nicely, only to be wiped out by market reversal. Some traders are fortunate enough to break even on a profitable trade, while others lose money. The Exit Indicator MT4 is based on the idea that when a price swings against the main trend for a long time, it is likely to revert.
The Exit Indicator MT4 is a volatility Indicator based on the average true range Indicator. In practice, traders should exit positions at the trend change indicated. Three basic formulas are used to calculate the average true range (ATR). Subtract the current day’s low from the current day’s high to get the ATR. Then take the previous day’s close and subtract it from the current day’s high. Finally, divide the current day’s low by the prior day’s close to get 3 different numbers. The highest of the three figures is the average true range for a currency pair. The higher that number is, the more volatile that forex pair is likely to be.
The Exit Indicator MT4 is a very helpful indicator. The Exit Indicator MT4 is a MetaTrader 4 (MT4) indicator that may be used with any forex trading system or strategy to confirm trade exits.
Indicator Settings
How to Exit Indicator MT4
Download and extract files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:
The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.
