xSuperTrend Candles Indicator

xSuperTrend Candles Indicator

xSuperTrend Candles Indicator For MT4 is an effective trend-following tool that provides bullish and bearish forex trading signals by candlestick color

The xSuperTrend indicator for MT4 changes the color of candles to red and green based on the bullish and bearish nature of them. This enables forex traders to view the chart without the classic super trend line. As a result, forex traders can further enhance their technical analysis while having quality trend trading signals.

The indicator works well in all chart time frames and is suitable for intraday to daily, weekly and monthly charts. Moreover, as this indicator is a trend following indicator traders can use it for automated trading programs.

xSuperTrend Candles Indicator For MT4 Trading Signals

The indicator changes the bullish candle color to green and the bearish candle to red. The trading strategy is to enter the markets upon the change of candle color. This in turn helps the forex trader to enter the market upon a trend change.

Traders should enter the market with a buy trade, upon the formation of a green candle with a stop loss below the previous swing low. Similarly, if a red candle appears traders should consider entering the markets with a sell position with a stop above the previous swing high.

Traders should exit the trade at an opposite color change as this indicates a trend change. Moreover, holding positions until a trend change helps traders to ride the trend and maximize the profit.

Another trading strategy is to analyze the markets in light of the next higher time frame. This enables the traders to stay in the trend direction and increase the win ratio.

Conclusion
In summary, the xSupertrend candles indicator for MT4 provides the possibility of viewing the market trend direction in an alternate method. Though the indicator provides reasonably profitable signals, traders should confirm the price reversals using price action.