WATR Simple Trend Indicator for MT4

Introduction to the WATR Simple Trend Indicator

The WATR Simple Trend indicator is a custom forex indicator that shows market trends in the form of an upside/downside band.

As the name suggests, it’s really simple to use that indicator. When the coral color band is moving below the candlesticks – it means there is a bullish trend. While the dodger blue color band is moving above the candlesticks – there is a bearish trend.

You can use that gauge as a trend-following tool, and even a breakout strategy tool.

Trade entry point happens after a first closed candle after band switch (trend direction change).

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 to set up the WATR Simple Trend indicator in MT4?

Installation Guide

Copy and paste the watr-trend-indicator.ex4 or watr-trend-indicator.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.

Bottom Line

The WATR Simple Trend 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.

WATR Simple Trend Indicator Free Download

To download the WATR Simple Trend Indicator for Metatrader 4 (MT4) for free just click the button below:

WATR Simple Trend Indicator Free Download

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