The BOS & CHoCH Metatrader 4 indicator is a powerful tool to help traders identify trend reversals and entries for both buy and sell trades.
It works effectively across all timeframes and currency pairs, offering clear signals for buy and sell positions.
The indicator displays a blue line (CHOCH) for bullish signals and a red line (BOS) for bearish signals.
Download Now:
⬇️Download the BOS & CHoCH indicator here
File name: Bos&Choch.ex4
Once you have downloaded the file, move it to your MT4 “Indicators” folder and restart the platform to start using it immediately.
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Indicator Chart:
Check out the 5-minute chart below, where the BOS & CHoCH indicator is plotted.
You’ll notice how the blue CHOCH line signals a buying opportunity, while the red BOS line highlights a selling moment.
Buy and Sell Trade Logic:
- Buy (Long Trade): Enter a long position when the blue CHOCH line appears on the chart. Place a stop loss a few pips below the most recent support level. Exit the position when the red BOS line appears.
- Sell (Short Trade): Enter a short position when the red BOS line appears. Place a stop loss a few pips above the most recent resistance. Close the trade when the blue CHOCH line reappears.
Stop Loss & Take Profit Rules:
- For Long Trades: Enter on a CHOCH signal, stop loss below support, and take profit when BOS appears.
- For Short Trades: Enter on a BOS signal, stop loss above resistance, and take profit when CHOCH appears.
Download The Indicator:
⬇️Download the BOS & CHoCH MT4 Indicator now
File name: Bos&Choch.ex4
Indicator Settings:
The BOS & CHoCH indicator is customizable with adjustable parameters such as the ZigZAG value, BOS and CHOCH display options, colors, and line styles.
These settings allow traders to modify the indicator to suit their trading preferences and styles, whether focusing on shorter or longer timeframes.
Interesting Combinations:
Combining this indicator with an Exponential Moving Average (EMA) can refine your entries. For example:
- Buy Entry: Enter a buy when the CHOCH line appears, and the price is above the EMA.
- Sell Entry: Enter a sell when the BOS line appears, and the price is below the EMA. This combination helps confirm the trend and increases accuracy in identifying strong trade setups.
FAQ:
- Can this indicator be used on any currency pair?
Yes, it works on all currency pairs. - Which timeframes are best?
It is effective on all timeframes, from 1-minute to daily charts. - How do I install it on Metatrader 4?
Place the indicator file in the MQL4/Indicators folder and restart your platform.