BoxInside Indicator
Best price level indicator for MT4. Closely tracks market highs, lows, and trading volume. Points to precise forex & stock buy-sell positions on MTF charts.
Description
The BoxInside MT4 is an automatic chart scanner that points to key price positions and potential breakout levels. This indicator considers the Point of Control (POC), Value Area High (VAL), and Value Area Low (VAL) for assessing the price levels. The multi-color dots around the price candles show the value area of the respective price terms.
From a technical perspective, the BoxInside MT4 is not an indicator of exact buy-sell levels. Instead, it provides you with helpful price information. Once you start reading and monitoring the price data accurately, you can identify precise trade-entry levels by yourself.
This interactive trading guide teaches you a BoxInside MT4 trading strategy, perfect for forex and stock day/intraday traders. Also, don’t miss the indicator’s settings section showing how you can customize the indicator according to your needs.
How to identify buy-sell opportunities using the BoxInside MT4 indicator
The high, low, and middlebox signals give you an overview of the current market range and the intraday price breakout zones. On the other hand, the VAH and VAL dots are key signals for determining potential buy-sell opportunities.
A VAH candle closes above the market high, or a solid resistance indicates a strong buy signal following the bullish breakout. In the same way, look to go short when a VAL bar closes below a significant support line. These two factors also confirm the price retracement is limited to 70% to the complete value area.
The above GBP/USD chart example shows a sell signal we’ve verified using the BoxInside MT4 indicator. The price was initially in a bearish trend and was approaching the nearest support at 1.1479. Later, the chart printed a large bearish candle that broke the support level.
The VAL signal confirmed the price failed to exceed the 70% value area of the previous candle. It proves that the market has lost the short-term bullish momentum and re-joined the recent downtrend. In such conditions, you can trigger a sell below the S/R line considering it a solid bearish breakout.
Apart from intraday trading, scalpers and day traders may also try BoxInside MT4 for candle-by-candle price monitoring.
Conclusion
The BoxInside MT4 is the best alternative to fractals and regular price swing indicators. This indicator may not show you specific buy-sell levels, but it’ll help you identify potential trading zones. If you trade based on the daily support/resistance levels, this indicator will help you to assess upcoming price actions and key target points. Finally, you can use the BoxInside MT4 indicator alongside any forex and stock trading strategy to boost your trading accuracy.