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Home Forex MT4 Indicators Trend Direction & Force Index Averages Indicator

Trend Direction & Force Index Averages Indicator

Introduction to the Trend Direction & Force Index Averages Indicator

The Trend Direction & Force Index Averages Indicator is a custom oscillator that fluctuates above and below zero. It combines price movement and volume to assess the force behind price movements and recognizes potential trend changes. Additionally, it colorizes the line to blue (above 0 level) and pink (below 0 level).

The indicator is simple, easy to use, and fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart.

The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How does it work? How to apply in trading?

Trading Rules Explanation

Buy Entry: Open long trade when the indicator value turns positive (above 0 level) and the triggering bar has closed. The signal line should be colored to blue. Place your stop loss a few pips below last swing low.

Sell Entry: Open short trade when the indicator value turns negative (below 0 level) and the triggering bar has closed. The signal line should be colored to pink. Place your stop loss a few pips above last swing high.

Exit Trade / Take Profit: Close your open trade when the indicator value turns neutral (at 0 level), or use your own preferred method of trade exit.

As always, to achieve good results, remember about proper money management.

Example of USD/JPY Daily Chart

This screenshot below shows an example of Trend Direction & Force Index Averages in action.

Example of the EUR/USD chart with Trend Direction & Force Index Averages indicator in action.

How to set up the Trend Direction & Force Index Averages indicator in MT4?

Installation Guide

Copy and paste the trend-direction-force-index-averages.mq4 or trend-direction-force-index-averages.ex4 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, that 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.

Free Download

Click the link below:

LINK

Bottom Line

The Trend Direction & Force Index Averages indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.

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