Forex Line Indicator
Platform: MT4 Type: Trend Last update: September 28, 2024The Forex Line Indicator for MT4 is an improved version of Moving Average and it gives more clear signals. When the Forex Line turns blue from white, it is a signal for a long trade. Similarly, a Forex Line switch from blue to white triggers a sell trade.
How to understand the signals?
Basically, the Forex Line Indicator is a very simple one, it’s just a line (like Moving Average) that is either colored white or blue. The blue color indicates an ongoing bullish trend-momentum, while the white color suggests a bearish trend-momentum.
Buy trade
- Overall trend is clearly bullish
- Line changes color from white to blue
- Set stop loss a few pips below the most recent market low point
- Take profit when the line changes color again to white
Sell trade
- Overall trend is clearly bearish
- Line changes color from blue to white
- Set stop loss a few pips above the most recent market high point
- Take profit when the line changes color again to blue
Avoid Sideway Market
The Forex Line indicator has poor performance during the choppy and sideways markets, so better avoid trading during that conditions. Take a look at the chart below, where you can notice many fake signals.
