Forex Major Trend Indicator
The forex major trend indicator draws trend bars below the main Metatrader 4 window. Blue bars when the major trend goes up, red bars when the major trend goes down. This indicator works well on the higher time frames. Use in conjunction with other trading indicators and analysis tools when trading the lower time frame’s, for example 1 minute charts for scalping purposes.
Buy: Wait for the first blue bar. Open long position at the open of the next bar.
Sell: Wait for the first red bar. Open short position at the open of the next bar.
Currency pairs: any
Preferred Time frames: Suitable for 1 min charts and above.
Sessions: Euro and US for charts below the 30 min. 24/7 for charts above the 30 min.
Configurable Indicator Options
Deviation, Money Risk, Signal, Line, Bars, Colors,…
EUR/USD 4 Hour Chart Example