TrendSignal Indicator

TrendSignal Indicator

TrendSignal indicator for MT4 provides the best trend-based forex trading signals with arrows , BUY and SELL using arrow signal.

The TrendSignal indicator for MT4 is a trend following indicator that shows BULLISH and BEARISH arrow trading forex signals. As the indicator shows the arrow signals with alerts forex traders can easily BUY and SELL as the price reacts.

The indicator works best for new and advanced forex traders. New forex traders can use the indicator and identify the direction of trend and price. However, advanced forex traders can use the indicator trading signals in confluence with other indicators. Moreover, coders can incorporate the indicator with auto trading forex software systems. Trend following is an important part of many forex trading strategies, this indicator can be easily integrated into one of them. Additionally, this indicator is available as a free download and can be installed with ease by traders.

TrendSignal Indicator For MT4 Trading Signals

The above AUDUSD H4 chart shows the TrendSignal indicator for MT4 in action. The indicator shows the BULLISH or BUY arrow signals as Blue, and the BEARISH or SELL trading signals as Magenta. Additionally, ZIGZAG lines are in White.

The indicator shows an Up arrow for a BULLISH signal, so traders can place a BUY trade. The best take profit target is the opposite arrow trading signal, as it indicates the end of the current trend and the beginning of a new trend. Furthermore, forex traders can place the stop loss at a previous swing low.

Similarly, a Down arrow represents the beginning of a BEARISH trend, so traders can enter a SELL position. As the indicator facilitates trend following, traders can ride the trend by holding the position until an opposite arrow trading signal occurs. So, the best position to book profit is the opposite trading signal and the best stop loss is above the swing high.

The indicator uses the classic ZIGZAG MetaTrader indicator to calculate the best arrow trading signals. However, for smoother trend following signals traders can adjust the RISK and SSP input parameters.
Most trend-following trading strategies use the multi-timeframe (mtf) trading approach. Price tends to provide stable and reliable trend direction at higher time frames. So forex trend traders can identify and enter at the best price in a lower time frame in the direction of the higher time frame trend. This allows the trader to stay in line with a major price trend.

Conclusion
The TrendSignal indicator for MT4 is very easy to interpret and trade forex. The arrow trading signals assist both the new and experienced forex traders to identify the BULLISH and BEARISH price trends. Furthermore, the indicator provides Take Profit and Stop Loss points to the traders and acts as a complete forex trading system. As discussed earlier, the indicator can be integrated into automatic forex trading systems. Additionally, traders can take advantage of the indicator as it’s free to download and easy to install.