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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.

Trading Signals

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.

Indicator Preferences

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.

Download

Download the ForexMajorTrend.ex4 indicator.

Configurable Indicator Options

Deviation, Money Risk, Signal, Line, Bars, Colors,…

EUR/USD 4 Hour Chart Example

forex-major-trend-indicator

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