The Fiji Trend Indicator MT4 is a valuable tool for determining market direction and identifying trend reversals effectively. The Fiji Trend indicator derives its foundation from the Fiji strategy, as you may have inferred. However, it goes beyond that by integrating additional tools such as the Heiken Ashi. Free download is available.
Sounds interesting? Let’s take a closer look at it.
Fiji Trend Indicator: Introduction
MT4 Indicator Overview
The download link of the Fiji Trend MT4 indicator is placed at the bottom of this post – once you’re done, your Metatrader 4 trading chart should look similar to the example below.
The indicator utilizes an 11 Average True Range (ATR) and a 5 Moving Average (MA) to generate market signals. By observing the crossover direction of the market, you can determine the overall market trend. Additionally, this indicator enhances its functionality by employing signal arrows, providing insights into the potential future direction of the market trend.
Simplified Trading Recommendations
Buying: Look for a lime green arrow pointing upwards in the Fiji trend indicator. When the indicator changes color to aqua, it indicates a favorable buying opportunity. Consider exiting your position when the indicator displays a red arrow pointing downward, indicating a potential price reversal.
Selling: Take note of red downward-pointing arrows in the indicators. When the indicator changes color to yellow, it signifies a suitable selling opportunity. Exit your position when a lime green arrow appears facing upwards, indicating a shift in market direction towards an uptrend.
Fiji Trend: Buy Trade Signal
To begin, the initial step entails identifying a bullish trend by observing the price floating above a specific moving average. In this case, we utilize a 200-period Exponential Moving Average (EMA). Once the bullish trend is established, patiently await the appearance of a green arrow. Once the arrow is visible, it is crucial to wait for the candle to close before initiating a buy trade. Subsequently, the Fiji indicator’s continuous arrow line (aqua) will trail the price until the conclusion of the ongoing cycle.
To manage risk, set your Stop Loss below the most recent swing low in the market. As for taking profits, you have two options: exit the trade when an opposite arrow emerges, or employ a risk-to-reward ratio of 1:2.
Fiji Trend: Sell Trade Signal
Likewise, it is essential to identify the current trend as bearish, which is indicated by the price floating below the specified moving average. Once the bearish trend is confirmed, patiently await the appearance of a red arrow. When the red arrow materializes, it is crucial to wait for the candle to close before initiating a sell trade. Subsequently, the continuous arrow line of the Fiji indicator (colored yellow) will track the price movement until the conclusion of the ongoing cycle.
To manage risk effectively, set your Stop Loss above the most recent swing high in the market. As for taking profits, you have two options: exit the trade when an opposite arrow emerges, or utilize a risk-to-reward ratio of 1:2.
MT4 Indicators: Download and Installation Instructions
Download the Fiji Trend Indicator MT4.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 MT4 Fiji Trend indicator for MetaTrader is a simple tool for tracking trends, indicated by the presence of green and red arrows. By observing and interpreting these arrows, you can make informed trading decisions. This indicator serves dual purposes, functioning as both a trend-reversal and a trend-continuation indicator. However, it is important to note that occasional false signals may arise. To validate the signals further, it is advisable to incorporate additional filters. The indicator is available for free download and can be effortlessly installed.
Download Free Forex Fiji Trend MT4 Indicator
To download the Fiji Trend Indicator for Metatrader 4 (MT4) for free just click the button below: