Super Trend Channel Metatrader 4 Forex Indicator
The super trend channel MT4 Forex indicator draws the very best trend channels on the currency chart for any time frame and pair.
You don’t have to lift a finger, the magic happens all on autopilot.
The super trend channel indicator draws longer-term as well as shorter-term trend channels on the MT4 chart.
Forex trend channels are useful for scalping, day trading and swing trading.
- For scalping, use the M1 and M5 charts.
- For day trading, use the M5, M15 and M30 charts.
- For swing trading, use the H1, H4 and D1 charts.
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Super Trend Channel Indicator Chart
Here’s an example of how the Super Trend Channel indicator should look like when loaded onto the Metatrader 4 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With Super Trend Channel Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy trade near the lower trend channel. This is support. The overall trend must be upward. Confirm the existing uptrend with additional trading indicators or with price action.
A stop loss can be placed slightly below the previous swing low support, or use your own stop loss strategy.
Exit the buy trade at a fixed profit target of 2:1 reward:risk or better.
Sell Trigger: Open a sell trade near the upper trend channel. This is resistance. The overall trend must be downward. Confirm the existing downtrend with additional trading indicators or with price action.
A stop loss can be placed slightly above the previous swing high resistance, or use your own stop loss strategy.
Exit the sell trade at a fixed profit target of 2:1 reward:risk or better.
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First bar, delta bar, ins line, colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, RSI,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: channel trend
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.