Introduction to the Trend Reversal Indicator
The Trend Reversal Indicator does exactly what its name suggests. Namely, it recognizes trend direction and, most importantly, when a trend makes a reverse. Such a reversal trade is potentially very profitable as price makes a large swing. The indicator consists of two lines: blue and red. Trades are triggered at the crossover of these lines.
The Trend Reversal Indicator fits all kinds of timeframes and currency pairs. It 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.
Example trade with the Trend Reversal Indicator
Below is the screenshot of an example trade with the Trend Reversal Indicator.
As you can see, the blue line of the Trend Reversal indicator crosses below its red line. This is a sign that the trend will most probably turn bearish, and in fact, the price started to fall right after the signal.
How to set up the Trend Reversal indicator in MetaTrader (MT4)?
Download the Trend Reversal.rar archive at the bottom of this post, unpack it, then copy and paste the Trend Reversal.ex4 or Trend Reversal.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 Reversal indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, 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. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 Trend Reversal Indicator
To download the Trend Reversal Indicator for Metatrader 4 (MT4) for free just click the button below: