The BS Trend Metatrader 4 Indicator can be used to spot trend direction and trend reversal with good accuracy.
The default blue and violet vertical bars are used to represent bulls and bears market respectively.
The indicator is purely a trend following MT4 system that pops up on a separate window upon being activated.
Scalpers, intraday and swing traders can comfortably adopt this indicator and make it an integral part of their trading.
Key Takeaways
- Interpreting the signals from this indicator is simple and hassle-free, owing to its clutter free indicator setup that neatly arranges violet and blue vertical bars within its window.
- The violet vertical bars queue up below the zero-horizontal level, while the blue vertical bars pill up effortlessly above the zero-horizontal bar.
- The presence of a bullish trend in the market is marked by the blue vertical bars, while those of a bearish trend are depicted using the violet vertical bars.
- While the indicator is live in the market, it prints boldly the trend to watch out for, invariably offering traders the most reasonable forecast to follow.
Feel free to explore the BS Trend Forex indicator’s different parameters and settings to create your own personalized indicator setup.
Download Free
Download the “bstrend-indicator.ex4” Metatrader 4 indicator
BS Trend Forex Indicator Chart (EUR/JPY M15 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The BS Trend MT4 Indicator
Buy Signal: Go long when the indicator pops up blue vertical bars that are queued above the zero-horizontal level, while the blue line of the Alligator MT4 indicator crosses below the lime and red lines in a bottom up fashion.
Sell Signal: Go short when the indicator pops up violet vertical bars that are lined up below the zero-horizontal level, while the blue line of the Alligator MT4 indicator crosses above the lime and red lines in a top downward manner.
Exit buy trade: Close all buy orders if while a bullish trend is running, the BS Trend Indicator prints a violet vertical bar, otherwise the lime line of the Alligator MT4 indicator intersects its red.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the BS Trend Indicator prints a blue vertical bar, otherwise the lime line of the Alligator MT4 indicator intersects its red.
Tips: There are different proven methods that we can take advantage the BS Trend Indicator during trading, one of such is its combination with the Alligator indicator.
Notwithstanding, the indicator still reveals fantastic results when traded solo.
Download This Forex Indicator
Download the “bstrend-indicator.ex4” MT4 indicator
Adjustable Parameters
Period.
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
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.