Power Trend Indicator
The Power Trend Indicator for Metatrader has an important ability to indicate trends and provide a visual display of the various trend stages to the forex trader. As a result, this free to download amazing indicator with its ability to display different trend strengths will definitely form an important tool in the trend trader’s arsenal.
The main aim of the forex technical traders is to identify the direction of the trend. Successful Forex trading mostly depends on the ability to identify the trend and to follow them. Apparently, most of the technical indicators identify trends, but they fail to identify the trend’s real strength. Power Trend indicator for MT4 determines the presence of a trend, direction, and strength in visual colors. This important aspect of the Power Trend Indicator for Metatrader 4 empowers the trader with the trend’s essential insight.
The Power Trend indicator displays the trend strength visually in different colors. These colors help the forex trader identify weak trends, the possible emergence of a new trend, and establish if the trend strength is moderate or a strongly established trend. The information displayed by the Power Trend indicator is vital for the forex traders to identify the best entry and exit points. Many traders exit a profitable trade very early in the trend. However, the Power Trend indicator helps the traders stay within the trend and maximize profits. The visual colored histogram helps the forex traders plan trading strategies accordingly at different trends.
Power Trend Indicator For MT4 Trading Method
The above EURUSD H1 chart shows the Power Trend indicator histogram with different colors. The trend is UP if the histogram stays above the zero line. On the other hand, the histogram below the zero line indicates a DOWN trend. The histogram relative to the zero line is one of the multiple strategies and possibilities of this indicator.
The color of the histogram provides visual information about the trend strength in four different colors. If the histogram is in BLACK color, it shows a weak trend or absence of a trend denoting the period to avoid new trades. The RED color in the histogram shows that a new trend is starting to emerge. Additionally, if the trend is moderate, the histogram changes its color to BLUE. Finally, the GREEN color histogram indicates the presence of a strong trend.
The forex trader exits the trade once the histogram color changes to BLACK, indicating a weak trend, or the histogram changes to a RED color, indicating a new trend.
The histogram colors make it visually easy for new traders to identify the trend and maturity level. This enables new forex traders to ride the trend wave till its end. Experienced forex traders identify the various trend strength levels and plan advanced trade strategies.
Traders plan to add more positions to existing positions once the trend changes from moderate to strong as the color of the histogram changes from BLUE to GREEN. Additionally, the Power Trend indicator is free to download.
Conclusion
The Power Trend Indicator for Metatrader has an important ability to indicate trends and provide a visual display of the various trend stages to the forex trader. As a result, this free to download amazing indicator with its ability to display different trend strengths will definitely form an important tool in the trend trader’s arsenal.
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