Stealth Indicator

Stealth Indicator

Stealth Indicator For MT4 uses the SMA and LSMA indicators to provide buy and sell forex trading signals.

The Stealth indicator for MT4 uses the SMA and LSMA to provide bullish and bearish forex trading signals. It uses the high and low values of the SMA – Simple Moving Average and the LSMA – Least Square Moving Average to identify the trading signals. So, forex traders can use this indicator as a complete forex trading signal to exit and enter the markets profitably.

The indicator works well in all chart time frames and is suitable for all types of traders including scalpers and intraday traders. Moreover, it is simple to use and helps new and advanced forex traders. However, traders should note that it is necessary to wait for two consecutive candles in the same trend for signal confirmation. Additionally, traders can use this indicator to formulate auto trading strategies.

Stealth Indicator For MT4 Trading Signals

The indicator plots green and red indicator line in a separate indicator window. A green line indicates a bullish trend and the red indicates a bearish one. The trading strategy is to enter the markets using the line color change.

Traders can enter a buy trade if the green line appears and place a stop loss below the previous swing low. However, traders can hold the position and ride the trend until it matures and book profits at an opposite trading signal. A similar trading strategy can be followed in case of a bearish red line to open a sell position.

Another trading strategy is to identify the trend direction using a higher time frame chart. Based on the trend direction traders can enter in the same direction in a lower time frame.

Conclusion
In summary, the Stealth indicator for MT4 is a combination of the classic SMA and the LSMA MetaTrader indicators.