Trend Indicator LTFN

Trend Indicator LTFN

Trend Indicator LTFN For MT4 displays the trend direction as bullish, bearish, and flat for multiple forex chart time frames on the current price chart.

The Trend indicator LTFN for MT4 uses the classic ADX and Parabolic SAR indicator for identify the trend direction. It calculates the trend for the M1 to the monthly time frame and shows in the current chart window. As a result forex traders can identify the trend direction and strength of multiple time frames and buy and sell profitably.

The indicator does not explicitly provide buy or sell forex trading signals, but helps technical traders make trading decisions. This indicator works independent of the chart time frame as it pulls data from multiple time frames. Additionally, traders can use this indicator as a filter in automated forex trading systems.

Trend Indicator LTFN For MT4 Trading Setup

The indicator displays the trend information on the top left corner of the price chart. The bullish trend display is in lime, red represents bearish trend and the yellow indicates a flat trend. Generally, traders look for a similar trend direction in multiple chart time frames to confirm the entry.

For instance if chart time frames including the current chart time frame, the 2 lower and 2 higher time frames are lime it indicates a buy signal. A similar color setup in red indicates a sell signal. However, this indicator does not provide a stop loss or take profit target so traders should exit according to a good risk reward ratio.

Conclusion
In summary, the Trend indicator LTFN for MT4 is a multi time frame trend strength indicator. It is very useful for forex higher time frame technical analysis and multi time frame trading strategies.