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forex-trend-v1-indicator
forex-trend-v1-indicator

forex-trend-v1-indicator

Watch the testing video here:

Forex Trend V1 Indicator

 

Introduction to the Forex Trend V1 Indicator

The Forex Trend V1 Indicator is a custom forex trend-following forex indicator. It applies a crossover of two custom lines to generate trading signals. These signals are pretty easy to follow. It works best during strong trends, and unfortunately, it tends to give noisy signals during sideways market conditions. However, the Forex Trend V1 is still worth a try, especially when pairing it with some confirmation filters.

The Forex Trend V1 Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How does it work? How to apply in trading?

Trading Rules Explanation

As we mentioned earlier, market entries are based on crossovers. You can easily spot these points, with a quick glance of an eye. Even beginners shouldn’t have any problems, but detailed instructions are provided jest below.

Buy Signal

Follow these steps for a long trade:

  • The blue line should cross above the red line – bullish trend is now considered
  • Price swings higher from recent low swing
  • Buy trade is triggered after the above conditions are met
  • Set stop loss a few pips below the last low point of the market
  • Take profit or exit trade whenever the Forex Trend V1 provides opposite signal or use your own preffered method of trade exit

 

Sell Signal

Follow these steps for a short trade:

  • The blue line should cross below the red line – bullish trend is now considered
  • Price swings lower from recent high swing
  • Sell trade is triggered after the above conditions are met
  • Set stop loss a few pips above the last high point of the market
  • Take profit or exit trade whenever the Forex Trend V1 provides opposite signal or use your own preffered method of trade exit

As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.

How to set up the Forex Trend V1 indicator in MT4?

Installation Guide

Download the Forex trend V1.rar archive at the bottom of this post, unpack it, then copy and paste the Forex trend V1.ex4 or Forex trend V1.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL4 > Indicators (paste here).

Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

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