De Munyuk Indicator

De Munyuk Indicator

De Munyuk Indicator For MT4 is a forex bullish and bearish trend filter and trend-following indicator that provides buy and sell trading signals

The De Munyuk indicator for MT4 is a trend following indicator and provides bullish and bearish forex trading signals. Furthermore, traders can use this as a trend filter for multi time frame trading strategies or automated trading systems.

The indicator is easy to use for new and advanced forex traders. Additionally, traders can apply on all intraday price charts including the daily, weekly and monthly charts. As a result, the indicator is suitable for all types of traders including scalpers, short and long term traders.

De Munyuk Indicator For MT4 Trading Signals

The indicator provides colored boxes in a separate indicator window. The green boxes indicate bullish market trend, while the red boxes shows a bearish price trend. Additionally, the indicator does not repaint once the candle is closed.

Traders should enter the market with a buy trade if the color of box changes from red to green. As stop loss below the previous swing low and a take profit at the opposite trading signal works well. Similarly, traders should open a sell position if the color changes from green to red.

For best trading results, traders should enter traders in the direction of a higher time frame chart. This prevents early entry into a trend and helps traders avoid getting stopped.

Though, the indicator works well to provide standalone trading signals. It works well as a trend filter if combined with other trend following indicators. As a result, traders could enter trades after confirmation from multiple technical indicators.

Conclusion
The De Munyuk indicator for MT4 is a good trend indicator for forex traders. Moreover, it acts a trend filter for other technical indicators.