Ehlers iTrend Indicator

Ehlers iTrend Indicator

Ehlers iTrend Indicator is a super scalping MT4 indicator created for forex traders. Best for determining trend-following trading signals on MTF charts

The Ehlers iTrend Indicator represents a short-term trend signal generator developed for MT4 platforms. It was created based on the popular Ehlers-Fisher Transform, which is a type of technical analysis that uses digital signal processing techniques to filter out market noise and accurately identify the changes in market bias.

This guide will show you how to detect day and intraday buy-sell signals using the Ehlers iTrend Indicator in MT4.

How to Spot Forex Buy-Sell Signals Using The Ehlers iTrend Indicator in MT4

The iTrend Indicator works by measuring the market’s momentum and then using that information to generate buy-sell signals. The trend signals are determined based on whether the price intends to remain above or below the iTrend line.

During a bullish trend, the price will mostly rebound from the indicator level, using it as a dynamic support. Conversely, you’ll notice the price often rejects to exceed the iTrend line during a bearish trend. Once it confirms a trend, look for price-action buy-sell signals, which must be plotted close to the dynamic support-resistance level.

In the above USD/JPY 30-minute chart, the price rejected the trendline support several times, indicating an uptrend. At the same time, the price plotted a bullish candle that closed above the indicator line. According to the Ehlers trading strategy, it’s a perfect buy signal following the bullish trend confirmation by the indicator.

Please note that even though the Ehlers iTrend Indicator works as a dynamic trendline, using it as a trailing stop level for active trades is not ideal.

Conclusion
The iTrend Indicator for MT4 can filter out market noise and provide clear signals even in volatile market conditions. This makes it particularly useful for traders who are looking to make quick decisions based on market trends. Also, it can be used as a trade signal filter for any trend-following trading strategy.