Green Eyes Indicator - The Market Pressure Detector

"See the invisible market forces - trade with the eyes of a hawk!"

Indicator Overview

The Green Eyes indicator is a sophisticated MT4 tool that visualizes buying and selling pressure in the market using a combination of EMA and LSMA (Least Squares Moving Average) calculations. It displays histogram bars and lines to help traders identify potential trend reversals and confirm market direction.

How It Works

The indicator uses two main components:

EMA Comparison (Red/Lime Histogram)

Shows when price is above/below a 13-period EMA of typical price

Lime histogram appears when price EMA (buying pressure)

Red histogram appears when price EMA (selling pressure)

LSMA Comparison (Black Lines)

Calculates an 8-period LSMA (smoothed trend line)

Upper black line shows when LSMA price (potential resistance)

Lower black line shows when LSMA price (potential support)

Key Features:

Dual-layer analysis (EMA + LSMA) for confirmation

Clear visual representation through colored histograms

Works across all timeframes and instruments

Indicator Settings

Core Parameters

ParameterDescriptionDefault Value

g_period_76EMA period13

gi_80LSMA lookback period8

gi_84Visual offset level5

Visual Components

ElementColorMeaning

Upper HistogramLimePrice EMA (Bullish)

Lower HistogramRedPrice EMA (Bearish)

Upper LineBlackLSMA Price

Lower LineBlackLSMA Price

Trading Strategy

Best Usage:

Trend Confirmation:

When both histogram and LSMA agree (e.g., lime bars + LSMA below price = strong uptrend)

Reversal Signals:

Watch for color changes in histogram near LSMA crossover points

Support/Resistance:

Use LSMA lines as dynamic support/resistance levels

Entry/Exit Tips:

Go long when:

✅ Lime histogram appears

✅ Price crosses above LSMA line

✅ Both conditions confirmed on higher timeframe

Go short when:

✅ Red histogram appears

✅ Price crosses below LSMA line

✅ Both conditions confirmed on higher timeframe

Final Thoughts

The Green Eyes indicator gives traders:

✅ Clear visual representation of market pressure

✅ Early warning of potential trend changes

✅ Confirmation through multiple technical methods

💡 Pro Tip: Combine with price action patterns at key levels for higher probability trades. Works exceptionally well on H1 and H4 timeframes for swing trading.

🔥 Trade what you see - not what you hope! 🔥

(Note: Default settings work well for most currency pairs. Adjust LSMA period for more/less sensitivity.)