GG TrendBar Indicator

GG TrendBar Indicator

GG TrendBar Indicator For MT4 shows bullish, bearish, and neutral trend direction of all chart time frames, helps forex traders identify overall price trend

The GG trendbar indicator for MT4 displays the trend strength of multiple time frames in the current chart. Moreover, it shows the bullish, bearish and neutral trend in different colors. The indicator combines the classic ADX and the Parabolic Stop and Reverse (Psar) to provide the trend strength. So, forex traders can understand the overall trend direction of the currency pair and consider buying or selling accordingly.

The indicator is simple to interpret and suitable for new and advanced forex traders. It works well in all intraday chart time frames and the higher ones. Though the indicator does not provide any forex trading signals, it helps traders in technical analysis to identify the trend strength.

GG TrendBar Indicator For MT4 Trade Setup

The indicator plots square boxes on the chart corner representing every chart time frames. It shows the bullish box as lime, bearish boxes as red and neutral trend boxes with yellow. However, traders should use the indicator to gauge the overall trend of a currency pair.

The trading strategy is based on the overall trend strength. If the current chart time frame and next two consecutive higher time frames are in buy trend traders should enter a buy trade. Similarly if the current chart and 2 consecutive higher time frames are red, traders should open a sell position.

Traders should exit the position with stop loss or take profit, if the trend boxes change to yellow or opposite trend color.

Conclusion
In summary, the GG TrendBar indicator for MT4 is a handy tool for forex trend traders to identify the price trend at a glance. Furthermore, it enables the effectiveness of technical analysis.