The Forex Dynamic Trend Filter Metatrader 4 indicator is an excellent trend-following indicator that works with a digital filter.
The filter reduces the number of fake signals by at least 40%.
The indicator appears in a separate MT4 trading window in the form of a dual colored trend histogram.
The signals delivered by this indicator are really easy to follow and pretty accurate.
You just need to reverse the trading position when the colored trend changes from red to blue or blue to red.
That’s basically all.
Just load the Forex Dynamic Trend Filter indicator onto the Metatrader 4 chart and start trading with it in minutes.
- A new buy trade will get triggered when the histogram changes color from red to blue.
- A new sell trade will get triggered when the histogram changes color from blue to red.
- Does not repaint any trend bars.
- Works with a digital filter to reduce false signals.
Feel free to explore the Forex Dynamic Trend Filter indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (EUR/USD M5 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 Forex Dynamic Trend Filter MT4 Indicator
Buy Signal: Execute a buy trade when the histogram trend bars turn back to blue color.
Place your stop loss 5 pips below support, or use your own favorite stop loss strategy.
Close the buy trade when the trend bars turn back to red color.
Alternatively, exit the buy trade for a reward/risk ratio of 1.5 or better.
Sell Signal: Execute a sell trade when the histogram trend bars turn back to red color.
Place your stop loss 5 pips above resistance, or use your own favorite stop loss strategy.
Close the sell trade when the trend bars turn back to blue color.
Alternatively, exit the sell trade for a reward/risk ratio of 1.5 or better.
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Colors, width, style.
More Info About This Indicator
Recommended 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.