Alfa Trend Indicator

Alfa Trend Indicator

The Alfa Trend indicator for MetaTrader is a trend-following tool built with the relative vigor index (RVI), a centerline, and signal arrows for trend reversal.

The Alfa Trend indicator for MetaTrader is a trend-following tool built with the relative vigor index (RVI), a centerline, and signal arrows for trend reversal. The RVI and centerline work in synergy to identify the bias and trend reversal zones.

The indicator paints a blue/red arrow that indicates a buy/sell signal, respectively. However, the indicator’s signal is recommended to be used in line with price action for better efficiency. Further, the signal is suitable for scalpers, day/intraday, and swing forex traders.

How to Trade With the Alfa Trend Indicator

The above image depicts the indicator’s action on an AUDUSD currency pair in the H4 time frame. It shows how to identify a high-probability trade setup in line with price action.

The buy signal (blue arrow) in the above image was painted on a candlestick that has a strong bullish momentum. Besides, the bullish momentum candlestick also preceded a bullish engulfing candlestick chart pattern, an indication of a potential bullish move.

On the other hand, the sell signal was valid because the indicator painted a red arrow on a bearish engulfing candlestick chart pattern. Moreover, the signal also syncs with the trend reversal sign depicted by the bearish candlestick that was formed at the top.

Conclusion
The Alfa Trend indicator for MT4 is a trend-following tool that paints a buy/sell signal at trend reversal zones. Finally, it is free to download.