Technical Indicators for MetaTrader 4
Shopping cart
The cart is empty
MetaTrader 4
Top Rated Products MT4
Overview
The methodology and logic behind this Magic Brics mt4 indicator is based on the principles of trend following and price action trading.
Magic Brics indicator is a type of charting technique that represents price movements using order blocks rather than time. Each order block is formed based on a specified price movement, known as the order size, and is either colored in bullish (green) or bearish (red) depending on the direction of the price movement. Please make sure to adjust algo calculation depend on the timeframe - currently on this demo it is on 20 and you may need to change it to 40 ON MOST OF H1 to get desired and very accurate signal, the 20 is okay for eurusd h1 and other pairs check the settings in the description below.
The indicator uses a 3 secret algorythms to calculate each order block and filter unnecessary noise in the charts.
This approach is based on the idea that trends tend to continue in the same direction for a period of time before reversing. By waiting for a certain number of order blocks to form in a certain direction, the indicator attempts to capture these trends and avoid false breakouts and whipsaws.
The indicator also includes some email alert functionality to provide additional visual and auditory alerts when a signal is generated / opened or closed.
Overall, the methodology and logic behind this indicator are fairly straightforward and rely on a combination of trend following and price action principles. However, as with any trading strategy or indicator, it should be thoroughly tested and evaluated before being used in live trading.
Works on all assets all time-frames from m1 to weekly but my favourite that suits my type of trading , my style and mentality is H1 using Algo settings from 25 to 50 depend on asset and volatility
Green order block / box signals bullish trend and Red order block / box signals bearish direction.
The magic brics indicator is based on technical analysis and it is non repainting once a signal is generated.
FEATURES
- All time-frames supported M1 - M30 , H1 - D1 / W1
- None repainting
- All assets tradeable (including currency indexes AUD, EUR, NZD, etc)
- Sets are provided & current charts
- Limited number of Buyers
- Free Demo available to download
- Not time based but price movement based (which is very important)
- Very accurate
- Based on logic & technical analysis
- Very easy to use
BEST SETTING WITH THE CURRENT MARKET / MOST OF THE MARKETS
The Algo calculation settings can be changed easily at any time to best suit market conditions.
play around bar size 20 to 40 for the h1 to h4 timeframe please note these are not the default
or to say they are the best but the current market is in line with these you may have to keep on adjusting
time to time to get sniper entry signals and make sure to manage the trades
My current algo calculation settings on my charts I am using :
eurjpy h1 / h4 & eurusd h4 & gbpusd h4= => algo calculation 40 gbpaud h1 & gbpchf h1 & gbpcad h1 => algo calculation 25 - 40
audusd h4 = 25 - 40, xauusd h1 = algo calculation 25 to 45, EurUsd H1 algo calculation = 20
Eur / Usd / Gbp / Nzd / Aud index set algo calculation to 10 for other brokers set it to 2, you will see which one makes more sense / less noise / less sideways.
(A simple strategy -There are so many ways to try this indicator, load it direct on an asset aand it will analyze for you, or try this on indexes for example trading EurAud
if you want to trade EURAUD- you load it on EUR index if EUR is weak =red box and load it on AUD index -if AUD is =green -YOU WILL TAKE SELL ON EURAUD ) extra confirmation
load it on NZD, if GOLD & NZD & AUD are strong -Then EUR & USD is weak it is even a high probability trade because of the strang correlation on GOLD & NZD & AUD vs EUR & USD
- a lot of people think EURUSD does not move much which is true because of that positive correlation compared to EURAUD which moves sharply.
What this tool is
This indicator is oriented towards traders who are looking for an efficient and simple strategy .
Novice traders should not trade below M15 since it is noisy and sideways most of the time. I recommend H1 & H4 charts and play around algo calculation 20 to 50 on those timeframes.
The indicator is non-repainting and high accurate trading system. It is a trending system but -you can set higher time frames or box size to filter some sideways noise markets.
This indicator is not a complete trading strategy, nor an always in the market indicator.
the trader must manage and exit trades based on his best judgement
