FX Trender Metatrader 4 Forex Indicator
The FX Trender forex indicator for Metatrader 4 is an intelligent trend following oscillator that really works!
FX Trender oscillates above and below the neutral 0.00 level.
- A bullish trend occurs when the FX Trender signal line is aligned above the neutral level.
- A bearish trend occurs when the FX Trender signal line is aligned below the neutral level.
In order to wipe out false signals, FX Trender uses a neutral zone area (between the two two red lines).
This is called the “no trading zone”.
- Above the no trading zone, traders look for buy trade opportunities.
- Below the no trading zone, traders look for sell trade opportunities.
FX Trender can be used for scalping, day trading and swing trading.
For scalping purposes, use the indicator during the London and New York trading sessions.
Trade low spread forex pairs to yield maximum performance.
The EUR/USD 4-Hour chart below displays the FX Trender Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the FX Trender MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open long trade when FX Trender crosses above the upper red line from below (bullish signal). Place a stop-loss below support.
Sell Signal: Open short trade when FX Trender crosses below the lower red line from above (bearish signal). Place a stop-loss above resistance.
Trade Exit : Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend oscillator
Copy and paste the fx-trender.ex4 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)