DDFX Major Trend Metatrader 4 Forex Indicator
The DDFX Major Trend Metatrader 4 forex indicator displays the major trend for any currency pair and timeframe in a subwindow below the main trading chart.
The signals from this indicator are quite easy to understand and trade:
Blue histogram bars suggest the major trend is upwards while red histogram bars suggest the major trend is downwards.
The DDFX Major Trend indicator can be deployed as a standalone trend indicator or together with other analysis tools.
For instance, an oscillator could provide you with profitable oversold and overbought signals in the direction of the DDFX major trend.
DDFX is useful for scalping, day trading and swing trading.
The default indicator settings can be modified directly from the indicator’s input tab.
Feel free to experiment with its settings to fit your needs.
The EUR/USD 5-Minute chart below displays the DDFX Major Trend Forex Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the DDFX Major Trend MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Initiate buy trade position when the DDFX Major Trend forex indicator changes color from red to blue bars (bullish major trend).
Sell Signal: Initiate sell trade position when the DDFX Major Trend forex indicator changes color from blue to red bars (bearish major trend).
Trade Exit: Close the open buy/sell forex position when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Timeframe, Length, Deviation, MoneyRisk, Signal, Line, Nbars) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the ddfx-major-trend.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)