BDFX Trender Forex Metatrader 4 Indicator
The BDFX Trender Forex indicator follows the most profitable trend at all times.
The BDFX Trender MT4 indicator consists of colored signal bars that appear underneath the main trading chart.
The indicator works for any trade style including: scalping, day trading and swing trading.
- A blue colored BDFX Trender bar indicates a bullish trend.
- A red colored BDFX Trender bar indicates a bearish trend.
- A yellow colored BDFX Trender bar indicates a flat trend. You can stick with your open position or close it.
- Works as a standalone Forex trading indicator.
Read below how to open buy and sell trades with the BDFX Trender trend-following Forex MT4 indicator.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
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BDFX Trender Forex Indicator Chart
Here’s an example (GBP/USD H4 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Attach the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Signals With The BDFX Trender Forex Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Go long when a blue BDFX Trender bar appears underneath the activity chart.
Place initial stop loss 3 pips below previous swing low support or use your own favorite SL method.
Close the buy trade when a red sell bar appears on the chart, or use your own take profit strategy.
Alternatively, close the buy trade for a fixed TP, for example +60 pips on the H1 chart.
Sell Trigger: Go short when a red BDFX Trender bar appears underneath the activity chart.
Place initial stop loss 3 pips above previous swing high support or use your own favorite SL method.
Close the sell trade when a blue buy bar appears on the chart, or use your own take profit strategy.
Alternatively, close the buy trade for a fixed TP, for example +30 pips on the M15 chart.
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Color, width, style.
The indicator can be deployed as a standalone trading system or strategy.
It can also be combined with:
- Trading oscillators (MACD, RSI, DeMarker,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.