Forex Trend Champion Indicator
Platform: MT4 Type: Trend Last update: October 18, 2024The Forex Trend Champion Indicator is a technical forex gauge that points out the current and past trends. It provides green and red bars that indicate adequate market direction. Obviously, green bars are placed for a bullish trend, and red bars are placed for a bearish trend.
How to use Forex Trend Champion?
Red bars suggest a bearish trend and green bars indicate a bullish trend. So traders should be attentive for opportunities in the following situations:
- When the color of the bars changes from red to green, it is time to look for a buy order.
- When the color of the bars changes from green to red, it is time to look for a sell order.
Example trade
Below is the screenshot of an example trade with the Forex Trend Champion Indicator.
The trades are triggered when the Forex Trend Champion indicator changes its color. In this particular example, it changed from green to red suggesting a downtrend, so we placed adequate sell trade. Soon later, the price started to drop significantly.
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