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

forex-trend-scanner-indicator

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