Instantaneous Trend Line Metatrader 4 Forex Indicator
The Instantaneous Trend Line Metatrader 4 forex indicator is a technical tool that can be traced back to its creator, John Ehlers.
It’s known to play the role of a trend spotting tool by eliminating its cycle component.
The indicator is known to come in six different variants, but our focus is on this one.
The indicator comprises of two lines (red & blue) that overlaps each other within its indicator window and it is the crossing of these lines that can be interpreted into valid market signals.
There are no adjustable inputs parameters found on the Instantaneous Trend Line indicator, and users are expected to make use of its default settings.
Use this indicator together with other technical tools or price action to get the most out of it.
The USD/CAD M15 chart below displays the Instantaneous Trend Line Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the blue line of the Instantaneous Trend Line Metatrader 4 indicator overlaps the red line to hover above it.
Sell Signal: Go short when the red line of the Instantaneous Trend Line Metatrader 4 indicator crosses the blue line to stay above it.
Exit buy trade: Close all buy orders if while a bullish trend is running, the Instantaneous Trend Line indicator lines intersects.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Instantaneous Trend Line indicator lines are seen to intersect.
Tips: The Instantaneous Trend Line indicator makes it easier to spot trends and traders can always take advantage of its performance when formulating a trading strategy.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: 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 instantaneous-trend-line.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)