In this article, we present five new indicators for Metatrader 4 designed by a famous and expert trader in the Forex market named Karl Dittman. These indicators are available to any trader and can be used at their discretion. For each indicator we include a brief explanation and image showing how they look. At the end of this article, we include a link through which these indicators can be downloaded.
- ATR Levels
- Breakout indicator
- Trendlines indicator
This indicator displays a visual representation of the MACD indicator in multiple time frames and includes signs that show when the market is in an uptrend, a downtrend or a congestion zone (a market with no clear trend).
This indicator draws horizontal levels based on the ATR indicator that act as support lines 1 and 2 and resistance lines 1 and 2. Its greatest usefulness is focused on trading strategies based on breakouts.
As its name implies, is an indicator designed to show significant breakouts in areas where the price is trapped (zones without a clear trend). When these breakouts occur, the movements in the direction of the rupture are usually quite strong and therefore they offer interesting trading opportunities to obtain a good profit from the market.
This indicator draws trendlines on the charts. In this way, the trader can identify easily the current trends that dominate the market.
You can download this indicator for Metatrader 4 at no cost using the following link: