The Buzzer Indicator For MT4



Table Of Contents:

  1. The Buzzer Indicator For MT4
  2. Settings of the Buzzer Indicator For MT4
  3. Trade examples with the Buzzer Indicator For MT4
  4. Advantages of the Buzzer Indicator For MT4

The Buzzer Indicator For MT4 is an good trading tool, especially for those who are only part-time traders. Those who have a "normal" day job and thus can’t be in front of the screens all day can benefit from the features.

The Indicator sends you an alert via popup or email every time a new setup occurs. This way it is even possible to quickly check the charts e.g. via your smart phone and then enter trades.

 

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The indicator is using a modified Moving Average to find the spots for you to either enter into a new trend or into an established trend after a retracement. If you think about it a bit, the indicator also provides you with a good method for your trade exit. You can simply hold your trades until a new signal in the other direction occurs and then exit the trade. Since those setups are also alerted, you can exit your trades at work as well.  A visual filtering of the signals e.g. with an eye on the situation on the bigger time frames can help you to choose good signals and to avoid bad signals.

In this short article you will first learn about the different settings of the Buzzer Indicator For MT4. Afterwards I will explain you the different advantages that it provides you with and finally show you some trade examples with the indicator.

 

Settings of the Buzzer Indicator For MT4

The settings of the Buzzer Indicator For MT4 are very simple and uncomplicated to understand. The first column in the settings window is used to define the applied price for the Moving Average. The default setting of 0 uses the closing price, if you want to use the opening prices then you have to use 1 and for high or low prices use 3 or 4 respectively.

Up next with the “length” setting you can change the period of the MA. A smaller value creates a Moving Average that reacts faster to the present price movements but also might be more vulnerable to sudden spikes or fakeouts because of that. Contrary to this, a higher number creates a slower Moving Average that takes more time to react to the current movements but is less vulnerable because of that. So obviously the balance between slow and fast is key.  

With the next column you can select the timeframe that should be used for the Moving Average calculation. You can choose from all the timeframes available in Metatrader4. The determination of a fixed timeframe is very useful, because you can for example use a higher timeframe MA and then move to a lower timeframe to find an even better entry.

The last two settings are used to set up the alert feature. “AlertON” switches the popup alerts off or on, and “EmailON” is used for the email alerts. Above you can see how a popup alert from the Buzzer Indicator For MT4 looks like.

 

Trade examples with the Buzzer Indicator For MT4

In the above screenshot you can see multiple trades that are caused by the Buzzer Indicator For MT4. The indicator is best used in trending market, so it is a good idea to skip trading if the market is presently in a range.

You probably know that a trend never moves in a straight line for long but moves in a zigzag manner consisting of a strong move in trend direction and then a retracement against it. A typical trend consists of three strong moves, before a longer retracement or even a new trend starts. This knowledge can help us exploiting the market behavior by riding the safest moves of a trend.  

The Buzzer Indicator For MT4 helps us to identify the trending moves and their retracements and sends us an alert every time a change between retracement and trend move happens. We can then either enter a new trade or exit our previously running trade before the retracement.

By only trading the movements that have the largest probability of success (have an eye on the bigger picture), we limit our losses a lot and at the same time increase our profit tremendously. 

 

Advantages of the Buzzer Indicator For MT4

I guess the advantages of the Buzzer Indicator For MT4 by now are pretty obvious to you already so I will only summarize them quickly. Let’s start with the biggest advantage of the indicator, its alert feature. Many people are only part-time traders and thus this feature is especially interesting for them, because they can use this tool to trade even while working a full-time job.

Another advantage of the indicator is that it is easy to use. A quick analysis of the market context is all you need to do once you received an alert. Sounds pretty good for the profit potential that the Buzzer Indicator For MT4 offers, right? 

The indicator can also be used in alongside with other indicators to improve its performance. Make sure to only use a few other indicators max, because the charts otherwise get to confusing for you and reduce your trading success. 

Please note that you should always use a demo account when you learn to use a new trading tool. This will help you to avoid financial losses during the learning curve which comes with every new trading tool. On a real money account we suggest a conservative money/risk management where you should not risk more than 1% of your trading capital for each trade.

 

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