EasyTrendFollower
Trend following indicator for MT4
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Trend following indicator for Forex and Commodities
Trend direction indicator mt4 that offers instant trend signals for Forex and Commodities. It shows two different arrows in a chart, blue is signaling a bullish trend and red is signaling a bearish trend. 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.
Recommendations on usage
The blue arrow can be used for opening a buy trade. Vice versa for short trades.
It is not recommended to open a trade at every arrow. It is advisable to trade using a multi-timeframe to determine the trend direction in the longer term and focus ONLY on signals that move in that direction.
The idea is to use a "positioning time unit" (the shortest), and a "trend definition time unit" (the longest). We, therefore, recommend the following couples:
4 hours (recommended )
1 minute and 15 minutes (Scalping)
5 minutes and 1 hour
15 minutes and 4 hours
Trend following - Trend trading
Trend following strategy or trend trading is a simple trading strategy that has proven itself for decades.
Trend indicator mt4
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