The Icho Forex Trend indicator for Metatrader 4 uses a solid trading method to identify the best possible buy/sell trend for any currency pair.
The indicator appears as blue and red colored bars on the chart that appear somewhat below and above the actual candlesticks.
The Icho indicator works the best for scalpers and day traders.
Buy & sell signal:
- The first blue colored bar is your buy entry.
- The first red colored bar is your sell entry.
- Exit the trade for 10- 35 pips profit (depends on your chosen time frame).
From our testings, the indicator does not repaint and works for any currency pair and time frame without slowing down the trading platform.
It can be used as a standalone technical tool or it can be combined with other technical indicators and trading strategies.
Try first on a demo account until you fully understand how this indicator works!
Indicator Chart Example
The picture above shows the indicator attached to the Euro / U.S. Dollar chart.
How to install the Icho Forex Trend indicator to your Metatrader 4 platform?
- Download the icho-trend-indicator.mq4 indicator file here and save it to your computer
- Open your Metatrader 4 platform
- Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
- Click on “MQL4” and open the “Indicators” folder
- Paste the indicator file in this folder
- Restart Metatrader 4 and you’re ready to start using the indicator
How to edit the indicator?
- Attach the indicator to any trading chart of your preference
- Right click in the chart and select “Indicators List” from the drop down menu
- Select the indicator from the list and click on “Edit”
- Now you can start editing the indicator (Inputs, Colors and Visualization)
- Final step, click on the “OK” button to save the new configuration