Introduction to the Ultra Trend Indicator
The Ultra Trend Indicator provides trend direction suggestions. That forex indicator consists of two lines – a blue one and a red one, and their crossover is a trade trigger. When the red line crosses over the blue one, it means a trade direction is considered bullish. Conversely, when the blue line crosses over the red one, it means a trend is bearish.
The Ultra Trend 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.
Check charts of the Ultra Trend Indicator in action.
These are available settings.
How to set up the Ultra Trend indicator in MetaTrader (MT4)?
Download the Ultra Trend.rar archive at the bottom of this post, unpack it, then copy and paste the Ultra Trend.ex4 or Ultra Trend.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.
Summary Of That Forex Indicator
The Ultra Trend 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 MT4 Ultra Trend Indicator
To download the Ultra Trend Indicator for Metatrader 4 (MT4) for free just click the button below: