Trend Identifier Metatrader 4 Forex Indicator
The Trend Identifier indicator for MT4 looks similar to the traditional ADMI technical indicator but it isn’t really the same.
This indicator consists of a blue colored trading channel with a red signal line crossing above and below the channel.
A bullish trend occurs when the red signal line crosses above the trading channel from below. In this case, currency traders look for buy trade opportunities.
Conversely, a bearish trend occurs when the red signal line crosses below the trading channel from above. In this case, currency traders look for sell trade opportunities.
The Trend Identifier Mt4 indicator can be used as a standalone forex indicator and works for any trade style including scalping and day trading.
The USD/CHF Hourly chart below displays the Trend Identifier Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Trend Identifier MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade when the red signal line crosses above both blue Trend Identifier channel lines from below.
Sell Signal: Open sell trade when the red signal line crosses below both blue Trend Identifier channel lines from above.
Trade Exit: Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (MVA Length, Smoothing Length, Multiplier, Price) 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 trend-id.mq4 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)