The Drive Forex Trend indicator for MT4 has been developed to measure trend strength and signal for buy/sell trades accordingly.
The indicator looks similar to the J. Welles Wilder’s DMI indicator but uses a different formula to generate its red and green signal lines.
It’s a complete forex system that can be traded easily, even for absolute beginners.
The Drive indicator can be traded as a standalone trend indicator or used together with oscillators for scalping purposes.
Just load the Drive Forex Trend indicator onto the Metatrader 4 chart and start trading with it in minutes.
- A bull trend occurs when the green Drive signal line is positioned above the red line.
- A bear trend occurs when the red Drive signal line is positioned above the green line.
- Easy to trade with the Drive MT4 indicator.
- Popular trend-following indicator.
Feel free to explore the Drive Forex Trend indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (EUR/USD H1 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 Drive Forex Trend MT4 Indicator
Buy Signal: Open a buy trade when the green Drive signal line crosses the red line upward.
Set your stop loss below previous swing low or nearest consolidation, or use your own favorite stop loss method.
Close the buy trade when the red line crosses the green line upward (valid sell signal), or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed profit target of your preference, for example, 30 pips on the 15-minute chart.
Sell Signal: Open a sell trade when the red Drive signal line crosses the green line upward.
Set your stop loss above previous swing high or nearest consolidation, or use your own favorite stop loss method.
Close the sell trade when the green line crosses the red line upward (valid buy signal), or use your own favorite take profit method.
Alternatively, close the sell trade for a fixed profit target of your preference, for example, 60 pips on the 1-hour chart.
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Rel digit position, colors, width, style.
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.