Forextrendscanner Indicator For MT4
The Forextrendscanner indicator follows the forex trend and draws red and green signal candlesticks on the charts.
Green for a bullish trend and red for a bearish trend.
Interpretation
Lime colored candlesticks: strong up trend, green colored candlesticks: weak uptrend, red colored candlesticks: strong down trend, maroon colored candlesticks: weak down trend.
Forex Signals
Buy: Lime candlestick
Sell: Red candlestick
Trading Tip
Always trade in agreement with the overall trend.
For example, first define the trend on the higher time frame with a moving average then use the lower time frame to enter the trade with the forextrendscanner indicator.
Examples
Trend up on the 15 min chart ==> Lime colored bullish candlestick on the 5 min chart ==> Go long.
Trend up down on the 5 min chart ==> Red colored bearish candlestick on the 1 min chart ==> Go short.
Indicator Preferences
Currency pairs: Any
Preferred Time frames: Suitable for 1 min charts and higher.
Sessions: any
Download
Download the forextrendscanner.mq4 indicator.
Configurable Indicator Options
Colors, sensitivity…
EUR/USD H1 Chart Example
