Holy Grail 1.6 Indicator

Holy Grail 1.6 Indicator

The Holy Grail 1.6 indicator for MT4 is a technical trading tool that paints a buy/sell signal based on the Holy Grail trading strategy.

The Holy Grail 1.6 indicator for MetaTrader 4 is a technical trading tool that was developed to analyze the financial market and then display a buy/sell signal based on the Holy Grail trading Strategy. Speaking of the Holy Grail strategy, it relies on a synergy of the Exponential Moving Average (EMA) and the Average Directional Movement Index (ADX) indicators to determine the trend strength and suitable trade entry zone.

How Does the Holy Grail Indicator Work?
As stated above, the indicator works with the ADX and EMA. The conditions for the buy/sell signals stipulate that the ADX must be above the 30-level (which depicts a strong trend) and the price must touch and also reject at the EMA (which acts as a support/resistance zone) to trigger a buy/sell entry, respectively.

Furthermore, the ADX and EMA are not visible on the MT4 chart; rather, a buy/sell signal arrow is simply painted once the Holy Grail trading conditions are met. This makes the indicator an easy-to-use technical tool, which would suit both novice/intermediate and advanced forex traders.

However, it is important to state that the indicator shouldn’t be used in isolation; but in synergy with price action/and or with other technical trading tools.

How to Trade With the Holy Grail 1.6 Indicator

The above image depicts the action of the indicator on a EURUSD currency pair in the M15 timeframe.

The “SELL” annotation shows that the indicator has identified a strong bearish trend. This infers that all the buy signals would be ignored while the sell signals would be considered. Furthermore, the highlighted sell signal was valid and considered an optimal entry zone because it was also in synergy with price action (bearish engulfing candlestick).

Conclusion
The Holy Grail 1.6 indicator for MT4 is a financial trading tool based on the Holy Grail strategy, which can be used by scalpers, day/intraday, and swing traders. What’s more, it is free to download.