Introduction to the Fiji Trend Indicator
The Fiji Trend indicator for MT4 is a simple but effective trend-following forex indicator. What’s more, it works great as a trend reversal detector too.
It’s easy to use as it generates trading signals by displaying buy and sell arrows. These signals are most successful during strong market trends.
Naturally, sideways conditions aren’t the best fit for the gauge, so we suggest adding some kind of filter. For example, one can go with a long-period moving average indicator – reducing noise and fake signals and increasing effectiveness.
The Fiji Trend indicator fits all kinds of timeframes and currency pairs. It 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 does it work? How to apply in trading?
Trading Rules Explanation
Signals provided by that gauge are really intuitive and will not cause you difficulties. Simply follow the suggestions below.
Buy Trade Signal
The first step you need to take is to recognize the current trend to be bullish. You can easily do that with the help of a moving average (the price should float above the MA). In this case, we use 200-period Exponential Moving Average.
Next, wait for the green arrow to appear. When it occurs, wait till the candle closes, then open a buy trade. Fiji’s continuous arrow line (aqua) will now follow the price till the end of the current cycle.
Set your Stop Loss below the last swing low of the market. Take profit at the arrival of an opposite arrow or use a 1:2 risk to reward ratio.
Sell Trade Signal
Similarly, you need to recognize the current trend to be bearish (the price should float below the MA). Next, wait for the red arrow to appear.
When it occurs, wait till the candle closes, then open a sell trade. Fiji’s continuous arrow line (yellow) will now follow the price till the end of the current cycle.
Set your Stop Loss above the last swing high of the market. Take profit at the arrival of an opposite arrow or use a 1:2 risk to reward ratio.
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology.
It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.
How to set up the Fiji Trend indicator in MT4?
Download the Fiji Trend.rar archive at the bottom of this post, unpack it, then copy and paste the Fiji Trend.ex4 or Fiji 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 Fiji 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 Fiji Trend Indicator
To download the Fiji Trend Indicator for Metatrader 4 (MT4) for free just click the button below: