If you are looking for the De-Munyuk Indicator MT4, the link is at the very bottom of this post.
Disclaimer: I dont use this indicator for trading. I’m just attaching the download link here just in case you are interested in it.
What Is The De Munyuk Indicator?
I really cant find anything much on the internet about how the de munyuk indicator is based on.
If you can find something, make a comment and let me know so I can update this part.
How Does The De Munyuk Indicator Work?
- the de munyuk indicator mt4 works by simply displaying bars of green and red.
- green bars indicate bullish trend so you look to buy
- red bars indicate bearish trend, so you look to sell
How To Trade With The De Munyuk Indicator?
The very basic way to trade with the de munyuk indicator is this:
- you buy when a bar changes from red to green (this means when the downtrend is ending and uptrend is forming)
- you sell when a bar changes from green to red.(this means the uptrend is ending and downtrend is starting)
- you exit the trade when an opposite signal is generated
Advantages of The De Munyuk Indicator
- it is a trend indicator so if you have a good trend in place, it can generate good buy and sell signals for you
Disadvantages of The De Munyuk Indicator MT4
Every forex trading strategies and forex indicators have their strengths and weaknesses and this also applies to the de munyuk indcator:
- it is a lagging indicator which means price moves way ahead before the indicator responds
- which means that if you try to trade using smaller timeframes, you are bound to get many false signals
Ok, here’s the download link: de munyuk indicator: de-munyuk-indicator