Useful Forex Trend Filter Trading Indicator MT4 – Make Profits by Trading with the Trend
Use the trend trading indicator MT4 useful for trading forex. TREND is your friend. As a forex trader, I always heard that. Trading with the trend will give you an edge and help you become a profitable forex trader. How to trade with the trend? First, analyze the trend using support and resistance, using just a 200 exponential moving average or use a custom MT4 indicator like TREND Filter Indicator. Secondly, if you think the trend is uptrend, then wait for confirmation to BUY, if it’s uptrend it doesn’t mean it’s the best time to execute a buy trade. If it’s a downtrend, then look for selling opportunity.
When UPTREND, look for lower highs and pull the buy trigger. When DOWNTREND, look for the higher low to pull the sell trigger.
Useful Forex Trend Trading Indicator MT4 – Make Profits by Trading with the Trend
Trend Filter Indicator Settings Parameter
- Trend Period
- Show MTF Scanner
- Uptrend Color
- DownTrend Color
- Sideways COlor
- Alert_Settings
- Sound Alert
- Sound File
- PopUp Alert
- Email Alert
- Push Notifications
Trend Filter Indicator
This indicator will immediately give you an idea whether the forex pair you want to trade is uptrend or downtrend of different time frame.
Forex trend filter indicator MT4How to Use Trend Filter Indicator
1. Look for D1, H4, H1 timeframe trend. If all are UPTREND, then look for buy opportunity. If DOWNTREND, look for sell opportunity.
2. Pull your trigger by analyzing the m5 to m15 time frame. Do not forget to set stop loss and take profit. To maximize profit of the trend trading system using this trend filter trading indicator, use trailing stop (also protect your profits).
Note for Forex Scalper: Use H1 timeframe, then make a scalping decision using M5 or M15 time frame.
Note: Do not trade on sideways! To download this indicator, subscribe to our blog and email us with a subject “forex trend filter indicator MT4”. Ask about this indicator in the comment box below. We will only share the forex trend filter indicator for our website subscriber. Cheers!