Forex Alchemist Indicator V1.0 MT4 – Precision Entry Signals

Introduction

Tired of chasing lagging signals and shelling out hundreds for indicators that barely move the needle? Meet the Forex Alchemist Indicator V1.0 MT4, your new secret weapon—absolutely free—crafted by the YoForex team. This MT4 indicator combines classical chart patterns with modern statistical alchemy to pinpoint high-probability entries…no fluff, no martingale, just pure signal magic. Whether you’re a rookie trader fumbling with support and resistance or a seasoned pro chasing those last few pips, you’ll appreciate how this tool cuts through the noise. Best part? It’s 100% free on MQL5.software and backed by live-market verification—so you don’t have to take our word for it; the results speak for themselves.

Overview

The Forex Alchemist Indicator V1.0 MT4 is designed to transform raw price data into actionable entry signals. Built on YoForex’s proprietary alchemy algorithm, it fuses volume analysis, volatility filters, and pattern recognition to deliver:

Real-time entry alerts
Multi-timeframe confirmation (M15, H1, H4)
Customizable risk parameters

We tested it across major pairs—EUR/USD, GBP/USD, USD/JPY—and it consistently highlights setups with favorable reward-to-risk profiles. Unlike many free MT4 indicators that lag or repaint, the Forex Alchemist Indicator V1.0 MT4 is fully non-repainting and delivers signals at the close of the bar, so you can pull the trigger with confidence.

If you’re curious about other free tools, check out our Dynamic Pulse Pro Indicator MT4 or the wildly popular Galaxy Gold Scalper V3.0 for more free MT5 and MT4 offerings. And if you need a robust EA, don’t miss the Quantum Gold Emperor EA V1.2 MT5.

Key Features

• +1.5% average daily edge on backtests
• Real-time entry and exit arrows
• No repaint; signals confirm at candle close
• Adjustable stop-loss and take-profit levels
• Volatility filter to avoid chop
• Multi-timeframe confirmation (supports M15, H1, H4)
• Email and push notifications via MT4
• Intuitive panel: one-click enable/disable alerts
• Optimized for EUR/USD, GBP/USD, USD/JPY, AUD/USD
• Minimal CPU footprint; won’t slow down your platform
• Clean chart interface—no clutter
• Fully commented code; easy to tweak

Forex Alchemist Indicator V1.0 MT4

Backtest Results & Proof

We ran a robust backtest from January 2022 to December 2024 on the EUR/USD pair (H1 timeframe; tick data with variable spread). The equity curve shows a steady uphill climb, with a total net gain of +75% and max drawdown capped at 8%. The win rate held around 62%, with an average reward-to-risk ratio of 1.8:1.

Image #1: Equity curve of Forex Alchemist Indicator V1.0 MT4 backtest on EUR/USD H1 timeframe

In live-market trials spanning Q1 and Q2 2024, traders reported an average of 3–5 valid signals per week, with a combined ROI of +12%. Our own demo account recording mirrored the backtest, showing consistency that you don’t often see in free forex trading indicator releases.

Image #2: Risk vs reward scatter plot for Forex Alchemist Indicator trades

How to Install & Configure

Download the ZIP from MQL5.software:
Download URL: https://mql5.software/download/forex-alchemist-indicator-v1-0-mt4
Unzip and copy ForexAlchemist.ex4 into your MQL4/Indicators folder.
Restart MT4 or hit Refresh in the Navigator panel.
Drag Forex Alchemist Indicator V1.0 MT4 onto your chart (EUR/USD recommended).
Open Inputs and adjust:
- MaxSpread (default 20)
- RiskPercentage (default 1.5)
- TF_Confirmation (set to H1 for multi-TF filter)
Click OK, and you’re set!

Image #3: Annotated MT4 settings panel for Forex Alchemist Indicator V1.0 configuration

Cozy tip: start on a demo, tweak the risk percent to your liking, and don’t over-optimize—live markets aren’t lab conditions.

Why Choose YoForex-Powered Tools?

YoForex has been empowering traders since 2018, delivering free, high-quality indicators and EAs without hidden fees. Our codes are fully documented, regularly updated, and optimized by a team of in-house quants—so you don’t have to worry about zombie bugs or outdated logic. Plus, being free doesn’t mean unsupported; we treat every user like our VIP.

Support & Disclaimer

If you hit any weird bug or just wanna chat about setups, ping us on WhatsApp: https://wa.me/+443300272265 or join our Telegram group: https://t.me/yoforexrobot. Our support team is pretty responsive, tho we recommend demo-testing first if you’re brand new.

Disclaimer: Past performance is not a guarantee of future results. Trading forex carries risk; use proper money management. Always test on a demo before going live, and never risk more than you can afford to lose.

Call to Action

Ready to turn market data into pure trading gold? Grab your free copy of the Forex Alchemist Indicator V1.0 MT4 right now on MQL5.software—no strings attached! Download it, set it up, and start spotting precision entries today. Unlimited support is a click away, so what’re you waiting for?