Brooky Trend Strength Indicator

Brooky Trend Strength Indicator

Brooky Trend Strength indicator for mt4 – download free. Trend following indicator for mt4. Best trend strength mt4 indicator.

The Brooky Trend Strength indicator for MetaTrader is a trend following tool that displays the momentum/strength of any tradable asset. It is integrated with an algorithm that works with the Average True Range (ATR) and standard deviation of the price.

This technical indicator is built with histogram bars that depict different market strengths of an asset. The bars increase/decrease with the strength/weakness of the trend. The blue bars depict bullish momentum while the crimson bars represent bearish momentum.

The indicator’s bars also oscillate between a positive and negative zone as the price swings up and down. Bars that cross above the level-0 line suggest that the market is trending (bullish/bearish). Conversely, bars that cross below the level-0 suggest the market is moving in a sideways (ranging) direction.

So, in essence, the Brooky Trend Strength indicator helps you to read both the strength of a trend and the trend condition of the market (trending/ranging).

Furthermore, the indicator is recommended for novice, intermediate, and experienced traders. Besides, it is also suitable for scalping, day/intraday, and swing trading styles.

Brooky Trend Strength Indicator BUY/SELL Signals

The above screenshot depicts how the indicator would look on your MT4 platform. It also demonstrates how to identify a high probability trade setup.

The Brooky Trend Strength indicator may be used as a stand-alone indicator. Regardless, it is recommended to be used along with price action/other forex indicators for more efficient trade entries/exits.

BUY Signal: Firstly, wait for the BLUE histogram bars to be painted above the 0-level line of the indicator which implies bullish strength. With this condition, you may then open a BUY/LONG position after price action also displayed a bullish candlestick pattern (e.g. bullish engulfing).

SELL Signal: Firstly, wait for the CRIMSON histogram bars to be painted above the 0-level line of the indicator which implies bearish strength. With this condition, you may then open a SELL/SHORT position after the price action also displays a bearish candlestick pattern (e.g. bearish engulfing).

Conclusion
The Brooky Trend Strength indicator for MT4 is a tool that helps you to keep a tab on the strength of a trend. It also helps you to easily identify trending or ranging market conditions. What’s more, the indicator is free to download.