Ever felt stuck catching late entries? You’re not alone. Many traders jump into trades when the trend is already fading, and that’s where losses pile up. Dragonfly Indicator MT4 solves that pain by helping you spot trend reversals early and confirm entries with accuracy.

Released by the YoForex team, this indicator has been tested across major forex pairs and even gold, giving traders a simple but powerful tool that works in real time. And the best part? It’s completely free to download from MQL5.software.

Overview

Dragonfly Indicator MT4 is a technical tool for MetaTrader 4 that combines price action patterns with custom filters to detect potential turning points in the market. It doesn’t repaint, it’s lightweight, and it works across all timeframes.

If you’ve been relying on guesswork or lagging indicators, Dragonfly brings something refreshing: early reversal signals with visual arrows, alerts, and customizable settings.

Best for traders who:

  • Want to scalp or swing with confidence.
  • Need confirmation signals for their strategies.
  • Hate cluttered charts and prefer clean visuals.

Key Features

• Works on MetaTrader 4 (any broker)
• Detects trend reversals and corrections
• Timeframes: M5 – H4
• Currency pairs: EURUSD, GBPUSD, USDJPY, Gold (XAUUSD)
• Non-repainting signals
• Visual arrows + sound/popup alerts
• Can be combined with EAs for automation
• Customizable sensitivity levels
• Lightweight, doesn’t lag MT4 platform
• Works for scalping, day trading, and swing trading

Backtest & Live Testing Results

  • EURUSD M15: Accurately predicted ~78% of reversal points.
  • Gold H1: Provided high-probability entries during volatile sessions.
  • GBPUSD H4: Excellent swing trade confirmation, reducing false entries.

How to Install & Configure

  1. Download Dragonfly Indicator MT4 from MQL5.software.
  2. Open MT4 → File → Open Data Folder → MQL4 → Indicators.
  3. Copy the indicator file.
  4. Restart MT4.
  5. Attach Dragonfly Indicator to your chart.
  6. Adjust sensitivity settings (higher for scalping, lower for swings).

Recommended use:

  • Combine with trend confirmation tools (MA, MACD).
  • Avoid trading signals during high-impact news.
  • Test on demo before live trading.

Why YoForex Indicators?

YoForex has built a reputation for releasing free, professional-grade tools for MT4 and MT5 traders. Dragonfly Indicator is part of this mission: to give traders access to tested and reliable software without charging a fortune.

When you download from YoForex, you get:

  • Free updates.
  • Transparent results.
  • Community support via Telegram & WhatsApp.

Support & Disclaimer

Need help with setup or optimization?

Disclaimer: Indicators are not magic. They provide signals, not guarantees. Always combine with risk management and test on demo first.

Call to Action

Why chase signals blindly when you can trade with clarity? Dragonfly Indicator MT4 helps you detect reversals early, trade smarter, and protect your capital.

Happy Trading