Trend Strength & Correlation Metatrader 4 Forex Indicator

The Trend Strength & Correlation forex indicator for MT4 calculates and displays the strength value and correlation value for 27 currency pairs in one handy to read mini dashboard window.

Moreover, the indicator displays the most interesting pairs to trade in separate tables.

They are listed under “Long” and “Short”.

It’s highly recommended to confirm the possible buy and sell trades with technical indicators or analysis tools such as price action.

This indicator helps you to find interesting pairs for scalping (M5 chart), day trading (M15 chart) or swing trading (H1, H4 charts).

Free Download

Download the bt-cs-indicator.ex4” MT4 indicator

Example Chart

The EUR/USD 1-Hour chart below displays the Trend Strength & Correlation Metatrader 4 Forex indicator in action.

Basic Trading Signals

Signals from the Trend Strength & Correlation MT4 forex indicator are easy to interpret and goes as follows:

Buy Signal: Select a currency pair that is listed in the “long” table. Confirm the long trade with other technical indicators or analysis methods.

Sell Signal: Select a currency pair that is listed in the “short” table. Confirm the short trade with other technical indicators or analysis methods.

Trade Exit: Use your own method of trade exit.

Download

Download the bt-cs-indicator.ex4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (strength value, correlation value, pairs to scan) Colors, width & Style.

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

Type: strength | correlation

Installation

Copy and paste the bt-cs-indicator.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)

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