Forex Trend Scanner MT4 Indicator
The Forex Trend Scanner MT4 indicator is a candlestick based technical indicator that provides you profitable trend signals.
The Forex Trend Scanner consists of green and orange colored candlesticks that reveal the direction of the trend in real-time.
It’s a simple candlestick indicator that can help beginners to make Forex trading a profitable experience.
For better view, switch the default candlestick chart to bar chart.
It’s recommended to confirm buy/sell trades with additional trading indicators or with a price action strategy.
Just load the Forex Trend Scanner indicator onto the Metatrader 4 chart and start trading with it in minutes.
- A green colored candlestick represents an uptrending market.
- An orange colored candlestick represents a downtrending market.
- No repaint trading indicator.
- Works for scalping, day trading and swing trading style.
Feel free to explore the Forex Trend Scanner indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Chart (GBP/JPY 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 Sunrise MT4 Indicator
Buy Signal: Open a long position whenever the first green colored candlestick appears on the MT4 chart.
Set your stop loss below the previous swing low price, or use your own favorite stop loss strategy.
Exit the buy trade for a fixed profit target, or wait until you get an opposite sell signal.
Sell Signal: Open a short position whenever the first orange colored candlestick appears on the MT4 chart.
Set your stop loss above the previous swing high price, or use your own favorite stop loss strategy.
Exit the buy trade for a fixed profit target, or wait until you get an opposite buy signal.
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Sensitivity, 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.