Daily open line Indicator

Daily open line Indicator

Forex BUY and SELL signals from the best Daily open line Indicator for MT4. Find out the daily market open.

The Daily open line Indicator is a simple MT4 indicator that tells about the market open. The indicator plots dotted lines from the first candle of the day to the last candle. The dotted lines mark the open of the first candle and close of the last candle. The Indicator plot the dotted lines on the four 4H candlesticks of the day and acts as a previous day’s signal confirmation.

Traders need to use the Indicator on the 4H timeframe as it works best on this timeframe. The indicator doesn’t give the exact dotted line when applied on other timeframes. Also, the indicator may not work on daily and weekly charts.

Daily open line Indicator for MT4 BUY/SELL signals

The above EUR/USD H4 chart shows the Indicator on the chart. The indicator doesn’t determine BUY and SELL signals but acts as a trend confirmation. By looking at the previous day’s candlesticks, traders can determine the overall market trend and take positions accordingly.

Traders can apply other indicators like the RSI, and MACD, and this Indicator for further signal confirmation.

Conclusion
The Daily open line Indicator draws dotted lines on the four 4H candlesticks. These lines can help traders determine the previous day’s market trends. If you want to download current the Indicator, you can download the indicator for free on our website.