Supertrend bar mtf Indicator

Supertrend bar mtf Indicator

Forex BUY and SELL signals from the best Supertrend bar mtf Indicator for MT4. Find out the trend’s direction on multiple timeframes.

The Supertrend bar mtf Indicator is a simple MT4 indicator that trend’s direction on multiple timeframes. The indicator plots the four timeframes below the chart; M15, M30, H1, and H4. It illustrates the trend in blue and red squares. The blue squares signify bullishness, while the red ones mention bearishness.

The squares have different periods, each mentioning the timeframe. For instance, the two 4H squares represent the two 4H periods. The good thing about the Indicator is it works on all timeframes.

You can also change the settings of the indicator’s periods according to trading styles. For instance, if you want to have four longer periods, you can select the 2H, 4H, D, and W timeframes. This way, the indicator works on every timeframe.

Supertrend bar mtf Indicator for MT4 BUY/SELL signals

The above EUR/USD H1 chart shows the Indicator on the chart. The indicator doesn’t tell the BUY and SELL signals; it acts as a confirmation of the current market trend. Traders should use it as a secondary indicator rather than the primary one. Combining the Indicator with other indicators can help determine entry and exit points.

A lot of times, the Indicator inconsistent squares. It suggests indecision in the market, and neither buyers nor sellers are in control. So, whenever the indicator highlights inconsistent squares, it’s best to avoid taking positions and wait for the consistent squares.

In addition, the indicator is prone to false signals on lower timeframes. Sometimes, the trend is bullish, but the Supertrend bar mtf Indicator will tell otherwise.

What is the best setting for the Supertrend indicator?

The best setting for the Indicator depends on the trader’s style. For instance, a scalper can look at the 15-minute timeframe on the indicator. In addition, traders can change the default settings of the indicator according to their preferences.

How do you confirm Supertrend?

Traders can use the Supertrend bar mtf Indicator’s periods to determine the trend’s direction. If there are blue squares, traders can take long positions. If the squares are red, traders can go short.

Conclusion
The Supertrend bar mtf Indicator for MT4 draws blue and red squares below the chart to present the overall trend’s direction. Traders can use the Supertrend bar mtf Indicator with other indicators for BUY and SELL signals. Also, you can download the indicator for free on our website.