Introduction to the DDFX Major Trend Indicator
The 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.
It fits all kinds of currency pairs and timeframes.
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 with DDFX Major Trend
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 with DDFX Major Trend
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.
These are available settings.
How to set up the DDFX Major Trend indicator in MetaTrader (MT4)?
Download the ddfx-major-trend.rar archive at the bottom of this post, unpack it, then copy and paste the ddfx-major-trend.ex4 or ddfx-major-trend.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 DDFX Major Trend indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success.
Nonetheless, 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. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 DDFX Major Trend Indicator
To download the DDFX Major Trend Indicator for Metatrader 4 (MT4) for free just click the button below: