4 Time Frame OBV 2 Indicator

4 Time Frame OBV 2 Indicator

4 Time Frame OBV 2 Indicator For MT4 plots trend direction of current, first, second, and third higher chart time frame. Best forex multi-timeframe trading

The 4 Time Frame OBV 2 volume indicator for MT4 plots the trend of the current, first higher, second higher and third higher chart in the current indicator window. As a result, forex traders can identify the trend direction of all the above charts at a glance. Moreover, traders can buy or sell only if the trend direction of all chart time frames aligns.

The indicator is easy to use and is effective for new and advanced forex traders and keeps them in the direction of higher time frame. As the indicator calculates the trend for next 3 higher charts, traders can apply on all chart time frames till the H4 chart. Moreover, it helps effective trend following for scalpers, intraday traders and short and long term forex traders.

4 Time Frame OBV 2 Indicator For MT4 Trading Signals

The indicator plots the OBV – On Balance Volume trend direction of 4 charts with bearish trend in red and bullish trend as blue. The trading strategy is to enter the markets if all the time frames are bullish or bearish.

If all the 4 time frames display a bullish blue signal, traders should enter the markets with a buy trade. A stop loss below the previous swing low could secure this position. It is prudent to hold the position until at least 2 chart time frames show opposite direction. However, aggressive traders can exit upon opposite signal of current time frame.

A similar trading strategy can be followed if all 4 time frames turn red.

Conclusion
In summary, the 4 time frame OBV 2 indicator for MT4 plots trend direction of multiple higher chart time frames and helps traders to stay on trend.