Vinin HighLow Indicator
Platform: MT4 Type: Trend Last update: October 6, 2024The Vinin HighLow Indicator for MT4 is an incredibly robust forex trend indicator that possesses exceptional power. Its purpose is to provide signals indicating the initiation and end of forex market trends. It presents these signals in a user-friendly Simple Moving Average format, making them easily comprehensible to anyone seeking to enter the correct trend at the opportune moment. This forex MT4 indicator is available for free download.
Explanation and details of the Vinin HighLow indicator
The Vinin HighLow Indicator is displayed in the form of a single moving average style. When the indicator turns green and the price remains above its level, it indicates a bullish trend and suggests a potential buying opportunity. Conversely, for a selling opportunity, the indicator should turn red, accompanied by the price closing below the slope.
When this forex indicator turns yellow, it signifies a neutral trend. During such instances, traders are advised to exercise patience and await additional confirmation of the upcoming trend before entering the market.
Buy Signal
Follow these steps for a long entry:
- Price closes above the Vinin HighLow Indicator
- The indicator changes to green
- A bullish bar forms directly above the indicator slope
- Buy triggers when all the aforementioned conditions are met, and the high of the corresponding bullish bar is surpassed
- Set the stop loss below the current swing low
- Exit the long position or take profit once the indicator transitions to yellow or red
Sell Signal
Follow these steps for a short entry:
- Price closes below the Vinin HighLow Indicator
- The indicator changes to red
- A bearish bar forms directly below the indicator slope
- Sell triggers when all the aforementioned conditions are met, and the low of the corresponding bearish bar is broken
- Set the stop loss above the current swing high
- Exit the long position or take profit once the indicator transitions to yellow or green
Summary
The MT4 Vinin HighLow indicator for MetaTrader is designed to promptly respond to changes in price action, ensuring minimal signal lag. This attribute makes it highly effective in identifying market trends. The indicator can be utilized with any forex currency pair and is compatible with various timeframe charts, enhancing its versatility.
One of the key advantages of this indicator is its simplicity, which makes it particularly beneficial for novice forex traders who follow trends. Its user-friendly nature enables newcomers to easily understand and apply the indicator, giving them an edge in their trading endeavors. The forex indicator is available for free download and can be effortlessly installed.
