Super Trend Multi MTF Indicator
Platform: MT4 Type: Trend Last update: September 25, 2024The Super Trend Multi MTF Indicator for MT4 is, as the name suggests, a multi timeframe forex trading indicator providing Supertrend signals. The Supertrend is a popular trend-following gauge, and this forex indicator gives the opportunity to use it in multi timeframe analysis.
How to use this super trend in trading?
The core element of the Super Trend Multi MTF Indicator is a signal line. When it’s green, a trader should look for buy trades. Conversely, the orange line reflects sell trade opportunities. It is an multi time frame indicator, so you can choose the specific time frame of provided signals. For example, when one is active on the H1 chart, the indicator could be set to provide signals for the H4 chart. Instructions below are based on signals for a current timeframe.
Buy Signal
Follow these steps for a long trade:
- Super Trend Multi MTF Indicator switches from orange to green
- Open a buy trade
- Set stop loss a few pips below recent market low
- Take profit or exit trade whenever the Super Trend Multi MTF Indicator provides opposite signal
Sell Signal
Follow these steps for a short trade:
- Super Trend Multi MTF Indicator switches from green to orange
- Open a sell trade
- Set stop loss a few pips above recent market high
- Take profit or exit trade whenever the Super Trend Multi MTF Indicator provides opposite signal
