Introduction to the Trend Profit Signals Indicator
The Trend Profit Signals indicator is a great trend detection tool. Thanks to that gauge you will know the exact time of trend beginning and trend ending.
It consists of a signal line that is colored into aqua and red. For a better understanding, it plots the trade signals directly as “BUY” or “SELL” labels around the price bars.
It fits all kinds of timeframes and currency pairs.
The indicator is displayed directly on 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.
How does it work? How to apply in trading?
Trading Rules Explanation
Signals provided by the Trend Profit Signals Indicator are really intuitive and will not cause you difficulties. Simply follow the suggestions below.
Buy Entry: Open long trade when the Trend Profit Signals indicator turns aqua and displays the “BUY” label. Place your stop loss a few pips below the last swing low.
Sell Entry: Open short trade when the Trend Profit Signals indicator turns red and displays the “SELL” label. Place your stop loss a few pips above the swing high.
Exit Trade / Take Profit: Close your open position when the opposite signal occurs, or use your own preferred method of trade exit.
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.
Example of CAD/JPY H1 Chart
This screenshot below shows an example of the Trend Profit Signals Indicator in action.
How to set up the Trend Profit Signals indicator in MT4?
Copy and paste the Trend profit signals.ex4 or Trend profit signals.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 Profit Signals 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 Profit Signals Indicator Free Download
To download the Trend Profit Signals Indicator for Metatrader 4 (MT4) for free just click the button below: