This indicator is called the Mega Trend indicator. It’s a trend-following indicator that can be used on any currency pair and time frame.
From the 1 minute up to the monthly chart.
Trading Signals
Method 1)
Blue indicator line: Buy zone (look for buy signals)
Red indicator line: Sell zone (look for sell signals)
Method 2)
Buy when the Mega trend line changes color from red to blue.
Similarly, sell when the line changes color from blue to red.
Download
Download the Mega trend.mq4 Metatrader 4 indicator.
Configurable Indicator Options
period, method, price,…
EUR/USD Hourly Chart Example
How to install the Mega Trend custom indicator in Metatrader 4?
- Download the Mega trend.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.