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Trend following indicator for Forex and Crypto
Trend direction indicator MT5 that offers instant Buy and Sell signals for Forex and Crypto. It shows two different arrows in a chart, blue is signaling a bullish trend (buy signal) and red is signaling a bearish trend (sell signal). EasyTrendFollower is a trend following strategy very powerful at detecting and tracking the trend while effectively filtering small price movements that represent intermediate corrections but without threatening the underlying trend.
Features
- The indicator does not repaint and works on any timeframe and symbol.
- The indicator is suitable for scalping and intraday trading.
- Real-time alerts system, push alerts, email alerts, and visual on-screen alerts.
Parameters
- Bars - Number of bars for the indicator calculation.
- Deviation - The strength of volatility (TO INCREASE FOR THE MOST VOLATILE CURRENCY PAIRS).
- Sound Alert - Message box alerts.
- Email Alert - Email alerts.
- Mobile Alert - Mobile phone alerts.
- Enable Dashboard - Display the information panel on the screen.
Entry Signal Rules:
Preferred Time Frames : M5, M15, M30, H1 and H4. Long Entry (Buy Signal): a. When the price closes above the indicator line, it generates a potential buy signal. b. The indicator line changes its color (e.g., from red to blue) to indicate a buy signal. c. A bullish candlestick pattern forms near or at the indicator line, confirming the buy signal. Short Entry (Sell Signal): a. When the price closes below the indicator line, it generates a potential sell signal. b. The indicator line changes its color (e.g., from blue to red) to indicate a sell signal. c. A bearish candlestick pattern forms near or at the indicator line, confirming the sell signal.
Exit Signal Rules:
Long Exit (Sell Signal): a. When the price closes below a trailing stop level placed above the entry price, it generates a sell signal. b. The indicator line changes its color (e.g., from blue to red) or starts moving sharply downwards, indicating a potential trend reversal and a signal to exit the long position. Short Exit (Buy Signal): a. When the price closes above a trailing stop level placed below the entry price, it generates a buy signal. b. The indicator line changes its color (e.g., from red to blue) or starts moving steeply upwards, indicating a potential trend reversal and a signal to exit the short position.
It's important to practice risk management and use stop-loss orders to protect your capital when executing trades based on these signals.
Trend following - Trend trading
Trend following strategy or trend trading is a simple trading strategy that has proven itself for decades.
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