Introduction to the ADX Trend MTF Buy/Sell Indicator
The ADX Trend MTF Buy/Sell forex indicator uses a custom formula to calculate its signals based on the ADX and Heiken Ashi technical indicators. You can set buy/sell arrows to appear on the chart.
That gauge falls into the category of trend-following forex indicators.
The signals provided are really simple to follow:
- Long entry – a green arrow represents a buy signal while the ADX trend takes positive values and is blue color.
- Short entry – an orange arrow represent a sell signal while the ADX trend takes negative values and is orange color.
An alternative way is to draw divergence trendlines and trade accordignaly.
It fits all kinds of timeframes and currency pairs.
The indicator is displayed in a separate window placed just below the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the ADX Trend MTF Buy/Sell indicator in MT4?
Copy and paste the adx trend (mtf + arrows + alerts).ex4 or adx trend (mtf + arrows + alerts).mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The ADX Trend MTF Buy/Sell indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
ADX Trend MTF Buy/Sell Indicator Free Download
To download the ADX Trend MTF Buy/Sell Indicator for Metatrader 4 (MT4) for free just click the button below: