Forex Trend V1 Indicator
Platform: MT4 Type: Trend Last update: September 29, 2024The Forex Trend V1 Indicator for MT4 is a custom forex trend-following forex indicator. It applies a crossover of two custom lines to generate trading signals. These signals are pretty easy to follow. It works best during strong trends, and unfortunately, it tends to give noisy signals during sideways market conditions. However, the Forex Trend V1 is still worth a try, especially when pairing it with some confirmation filters.
How to use the forex trend v1 indicator?
As we mentioned earlier, market entries are based on crossovers. You can easily spot these points, with a quick glance of an eye. Even beginners shouldn’t have any problems, but detailed instructions are provided jest below.
Buy Signal
Follow these steps for a long trade:
- The blue line should cross above the red line – bullish trend is now considered
- Price swings higher from recent low swing
- Buy trade is triggered after the above conditions are met
- Set stop loss a few pips below the last low point of the market
- Take profit or exit trade whenever the Forex Trend V1 provides opposite signal or use your own preffered method of trade exit
Sell Signal
Follow these steps for a short trade:
- The blue line should cross below the red line – bullish trend is now considered
- Price swings lower from recent high swing
- Sell trade is triggered after the above conditions are met
- Set stop loss a few pips above the last high point of the market
- Take profit or exit trade whenever the Forex Trend V1 provides opposite signal or use your own preffered method of trade exit
