DDFX Major Trend Indicator
Platform: MT4 Type: Trend Last update: September 28, 2024The DDFX Major Trend Indicator for MT4 detects the direction of the market trend. Free download.
Due to the simplicity of provided signals, it’s easy to understand and suitable for beginners and advanced forex traders too.
The DDFX Major Trend can be utilized as a standalone forex trend indicator or can be put together with other technical analysis tools to create a profitable trading strategy.
Closer look at the DDFX Major Trend Indicator
The DDFX Major Trend Indicator reveals the trend direction of any asset with the help of colored blue and red bars.
Its signals are provided in a separate window placed just below the main trading chart.
Simply put, blue histogram bars imply the major trend is considered bullish, and red histogram bars tell the major trend is considered bearish.
Take a look at the example below.
Signals provided by the DDFX Major Trend forex indicator are really intuitive and will not cause you difficulties. Simply follow the suggestions below.
Buy trade
Open long trade when the DDFX Major Trend changes its bars color from red to blue (bullish major trend). Place stop loss a few pips below the last swing low. Close your open position when an opposite signal occurs, or use your own preferred method of trade exit.
Sell trade
Open short trade when the DDFX Major Trend changes its bar color from blue to red (bearish major trend). Place stop loss a few pips above the last swing high. Close your open position when an opposite signal occurs, or use your own preferred method of trade exit.
The appearance of an opposite signal could be an early sign of trend reversal, but you should confirm that with some additional filters.
Be extra cautious during sideways and ranging markets. Don’t hesitate to confirm your decisions with other trend-following technical gauges e.g. Moving Averages or Parabolic SAR.
The screenshot below shows an example of the DDFX Major Trend in conjunction with 50-period Exponential Moving Average.
Settings
These are available settings.
