Introduction to the Trend Sentry Indicator
The Trend Sentry indicator is a trend-following indicator, that’s suitable for both, short-term scalpers, and longer-term swing traders.
That forex indicator itself it’s pretty basic as it consists of only two lines, a blue one, and a red one.
When the Trend Sentry provides the blue signal line it means that the current trend-momentum is considered bullish. Analogously, when the Trend Sentry provides the red signal line it means that the current trend-momentum is considered bearish.
Despite its simplicity, the indicator generates pretty accurate trading signals.
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 Sentry Indicator are really intuitive and will not cause you difficulties. Simply follow the suggestions below.
Buy Entry: Open long trade when the Trend Sentry indicator shows a blue line and in the top right corner there is an information “LONG” displayed. Place your stop loss a few pips below the last swing low.
Sell Entry: Open short trade when the Trend Sentry indicator shows a red line and in the top right corner there is an information “SHORT” displayed. 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 GBP/USD H4 Chart
This screenshot below shows an example of the Trend Sentry Indicator in action.
How to set up the Trend Sentry indicator in MT4?
Copy and paste the TRENDSENTRY.ex4 or TRENDSENTRY.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 Sentry 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 Sentry Indicator Free Download
To download the Trend Sentry Indicator for Metatrader 4 (MT4) for free just click the button below: