Bdfx Trender Indicator

Bdfx Trender Indicator

Bdfx trender indicator for MT4 identifies and plots Bullish, Bearish and neutral forex trend signals as histogram.

The Bdfx trender indicator for MT4 identifies and plots three different market trends: bullish, bearish, and neutral. This trend following indicator plots the results in a histogram. Identifying the neutral trend helps forex traders carefully navigate the sideways markets. So, forex traders can BUY and SELL in the trending market and stay on the sidelines during a sideways market.

The indicator works well in intraday charts and the daily, weekly, and monthly price charts and is suitable for scalping, short-term, and long-term traders. However, forex traders can use the indicator primarily to identify the current market trend. The indicator is ideal for new and advanced forex traders. New traders can identify the trend immediately and formulate trading strategies accordingly. However, advanced forex traders can use the indicator for automated trading strategies.

Bdfx Trender Indicator For MT4 Trading Signals

The GBPUSD H1 price chart above shows the Bdfx trender indicator for MT4 in action. The indicator plots the histogram in a separate window. The bullish histogram bars are blue, while the bearish histogram is red, and the neutral trend is yellow.

If the histogram bar color changes to Blue, it indicates the beginning of a bullish market trend. So, forex traders should enter the market with a BUY position with a stop loss below the previous swing low. As a trend following indicator, it helps the traders to ride the trend. So, traders can hold their positions and exit with profits at the opposite trading signal or if the histogram color changes to yellow. Additionally, traders can book profits with a good risk-reward ratio.

Similarly, if the histogram changes color to Red, it indicates the beginning of a bearish price trend. So, forex traders can enter the markets with a Sell position. A stop-loss above the previous swing high is good enough to secure this position. Furthermore, traders can hold the positions until the histogram bar changes color or book profits with a good risk-reward ratio.

The indicator is best suitable for top-down technical analysis. Generally, higher time frame price trends tend to stay longer and stay longer. So traders should apply the indicator to a higher time frame to identify the trend. Then choose a lower time frame price chart to look for the best entry price because traders may find price retracements and pullbacks in smaller time frame charts. These price movements act as the best entry points in the higher trend direction. Trading in the direction of a higher time frame trend helps traders stay profitable.

Conclusion
The Bdfx trender indicator for MT4 is ideally a trend-following indicator that detects three trend conditions. Thus, helping the traders address the market analysis’s primary question. The indicator provides a complete trading system with entry and exit parameters. Additionally, forex traders can download the indicator for free and install it easily.