Introduction to the Trend Direction Force Indicator
The Trend Direction Force indicator is a trend-following buy/sell signal oscillator that works really well.
The signal line moves between extreme values of 1 and -1. Most of the time it hovers around 0 level, and the signal occurs when it shoots up or down.
It fits all kinds of timeframes and currency pairs.
The indicator is displayed in a separate window placed just below the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
Simplified trading rules with the Trend Direction Force Indicator
- A buy entry (bullish trend) happens when the red oscillator signal line rises back above the upper gray 0.00 horizontal line from the bottom.
- A sell entry (bearish trend) happens when the red oscillator signal line falls back below the lower gray 0.00 horizontal line from the top.
How to set up the Trend Direction Force indicator in MT4?
Copy and paste the trend-direction-force-index-indicator.ex4 or trend-direction-force-index-indicator.mq4 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, which 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.
The Trend Direction Force 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, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Trend Direction Force Indicator Free Download
To download the Trend Direction Force Indicator for Metatrader 4 (MT4) for free just click the button below: