JR Trend Indicator

JR Trend Indicator

JR Trend Indicator For MT4 uses the 21-period EMA and 5-period SMA to identify bullish and bearish forex market trends of higher chart time frame.

The JR Trend indicator for MT4 uses a 21 period EMA and 5 periods SMA to identify the trend direction. It plots a histogram with different colors to shows the bullish and bearish forex market trend. As a result, technical forex traders can use this indicator on a higher time frame to identify the trend direction.

The indicator is easy to interpret and is helpful for new and advanced forex traders. Moreover, it works well in all intraday chart time frames as well as the daily, weekly and monthly price charts. However, for best results traders should use this indicator in a higher time frame chart. Additionally, traders can use this indicator in auto trading strategies to filter trades in the direction of higher time frame.

JR Trend Indicator For MT4 Trading Signals

The indicator plots a histogram with green and red bars. Green bars represent a bullish market while the red indicates bearish trend. Additionally, the green indicator line indicates a bullish market, yellow shows neutral trend and red indicates a bearish trend.

The trading strategy is to enter the markets if the histogram color and the line color matches. Traders should enter buy trade if the indicator line and histogram bar is green. Conversely, traders should open a sell position of both indicator line and histogram turns red.

The indicator is suitable for identifying higher time frame trend direction. Using the higher time frame direction traders can enter trades in the smaller time frame for profitable trades.

Conclusion
In summary, the JR trend indicator for MT4 is a moving average crossover strategy with a histogram and multi color indicator line. Additionally, traders can download this indicator for free and install it easily.