Semafor Alert Indicator (MT4) - Free Download - Best Forex Indicators

Introduction to the Semafor Alert Indicator

The Semafor Alert indicator is a custom forex trading indicator that works in a similar manner to the Zig Zag.

It spots major market turning spots and additionally it marks smaller Zig Zag legs.

That indicator will give you a sound alert and message popup when a signal occurs.

It fits all kinds of timeframes and currency pairs.

The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How to set up the Semafor Alert indicator in MT4?

Installation Guide

Download the Semafor Alert.rar archive at the bottom of this post, unpack it, then copy and paste the Semafor Alert.ex4 or Semafor Alert.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL4 > Indicators (paste here).

Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

Bottom Line

The Semafor Alert indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.