The Trend Slope Forex indicator for Metatrader 4 gives you powerful market insights in existing market trends.
It draws a yellow colored line on the chart that reveals the overall market direction.
It’s recommended to combine this indicator with other technical tools to pinpoint the exact trade entry price.
How to interpret this indicator?
- The overall market trend is rising when the yellow line is sloping up (see chart below).
- The overall market trend is falling when the yellow line is sloping down.
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 systems.
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 Trend Slope Forex indicator to your Metatrader 4 platform?
- Download the hp-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