The FX Trender indicator for the Metatrader 4 platform is a simple to use buy and sell Forex indicator that works well.
It consists of a green signal line and a double horizontal line that appears above and below the zero level, some sort of threshold level.
Buying and selling currency pairs is utterly easy with the FX Trender indicator, just follow the position of the green signal line.
For scalping purposes, it’s advised to trade with it during the London and U.S. trading sessions on the EUR/USD, GBP/USD, USD/JPY and GBP/JPY pairs.
Just load the FX Trender indicator onto the MT4 chart and start trading with it in minutes.
- A buy signal occurs when the green signal line is positioned above the upper purple horizontal threshold line.
- A sell signal occurs when the green signal line is positioned below the lower purple horizontal threshold line.
- Works on any currency pair and time frame.
- No repaint trading indicator.
Feel free to explore the FX Trend Sniper indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Chart (USD/CHF 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 FX Trend Sniper MT4 Indicator
Buy Signal: Open a buy trade as soon as the green signal line crosses above the upper purple threshold line from below.
Set your stop loss below previous swing support, or use your own favorite stop loss strategy.
Exit the buy trade for a fixed profit target of your preference, or simply wait until you get an opposite sell signal.
Alternately, apply your own take profit method to close the FX Trender based buy trade.
Sell Signal: Open a sell trade as soon as the green signal line crosses below the lower purple threshold line from above.
Set your stop loss above previous swing resistance, or use your own favorite stop loss strategy.
Exit the sell trade for a fixed profit target of your preference, or simply wait until you get an opposite sell signal.
Alternately, apply your own take profit method to close the FX Trender based sell trade.
Tip: You can easily combine the FX Trender indicator with the TrendScanner indicator for identifying the best currency pairs to trade.
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Colors, levels, visualization.
Characteristics of This Trading Indicator
Currency Pairs: Any (Major, Minor, Exotic)
Trading Time: Around the clock
Time Frames: M1 – D1
Indicator Type: Trend
Trading Platform: Metatrader 4
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.