Smart Trend Channel Metatrader 4 Forex Indicator

The Smart Trend Channel MT4 forex indicator follows the trend and consists of a middle, high and low trading channel line.

This indicator gives a very good indication where the trend is heading to.

The trend goes up when the channel is moving up and goes down when the channel is moving down.

The middle line of the channel acts as a gravity line.

The blue lower channel line acts as support and the upper red line as resistance.

This indicator works great to take advantage of short-term price moves.

Scalpers will love this forex indicator.

Free Download

Download the i-high-low-middle.ex4” MT4 indicator

Example Chart

The EUR/USD Hourly chart below displays the Smart Trend Channel Metatrader 4 Forex indicator in action.

Basic Trading Signals

Signals from the Smart Trend Channel MT4 forex indicator are easy to interpret and goes as follows:

Buy Signal: In an uptrending market, the channel is also moving up. Wait for the price to retrace back towards the green gravity line and open buy order.

Take profit at the red resistance line. Place stop-loss 1 pip below the blue support line.

Sell Signal: In an downtrending market, the channel is also moving down. Wait for the price to retrace back towards the green gravity line and open sell order.

Take profit at the blue support line. Place stop-loss 1 pip above the red resistance line.

Download

Download the i-high-low-middle.ex4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (Period) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: Channel

Installation

Copy and paste the i-high-low-middle.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)

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