Summary of "⚡️Probability Meter Indicator for MT4/5 - Free - [TradingFinder]"

Probability Meter Indicator Overview

The video introduces the Probability Meter Indicator, a free and effective trading tool available for MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms via the Trading Finder website. This indicator helps traders assess trend direction and strength as a percentage, providing actionable entry and exit signals.

Key Features & Functionality

The indicator displays a panel on the chart (lower right corner) showing:

Trading symbol (ticker)
Position type (long or sell)
Strength of the position (trend strength as a percentage)
Additional metrics including:
- Multi-info
- Index strength
- Currency pair range
- MACD indicator values
- Stochastic indicator values

This tool assists traders in conducting analysis based on price action and indicator data.

Customizable Settings

Display Options

Enable or disable display of values without colored bars
Adjust panel placement via horizontal and vertical pixel spacing

MACD Settings

Fast moving average period
Slow moving average period
MACD SMA line period

Stochastic Indicator Settings

%K period
%D period
Slowing period

Color Customization

Symbol display color
Text color
Indicator line colors
Percentage and numeric value colors

Alert Settings

Enable or disable signal alerts
Enable or disable email alerts (requires prior email configuration in MT settings)
Set a specific bullish alert threshold value that triggers notifications when reached

Example Usage

The current example shows a long position with trend strength at 27%, which is considered too low for entering a trade. This demonstrates how the indicator can help avoid weak trade setups.

Disclaimers

No explicit financial advice is given; the video serves as a tutorial on using the indicator.
Users are encouraged to experiment with settings and use the indicator as part of their broader trading analysis.