Half Trend Indicator for MT4 | Free Download
The Half Trend indicator
The Half Trend indicator is a custom buy/sell indicator with arrows plotting in the direction of prices.
Working as an overlay indicator, the half trend indicator sits on the price chart directly and plots in real-time the price action.
Traders can use the half trend indicator as a way to enter into a trend.
When to go long using the Half Trend indicator
You will be taking a long position when the trend is up. The half trend indicator signals this with a blue line. Long positions are initiated when the blue line first appears with an arrow pointing upward. First, wait for the signal to emerge and then go long on the open of the next candlestick.
When to exit long positions
Long positions can be exited when you see the red arrow pointing downwards. This simply tells you that the previous uptrend is complete.
When to go short using the Half trend indicator
To take on short positions, wait for the half trend indicator to first plot the red arrow.
Then at the open of the next candlestick, go short and following the downtrend.
When to exit short positions
Short positions are to be exited when the trend changes.
This means that after you see the appearance of the blue arrow pointing upwards, exit any short positions you might have.
Where to set the stop loss using the Half trend indicator
The stop-loss levels for the half trend indicator are set based on the long wicks that are formed near the blue or the red arrow.
Just set your stop loss a few points above or below the wicks formed by the half trend indicator.
The half trend indicator is a custom MT4 indicator. This indicator shows you the trends in the price action very conveniently.
By plotting the up and down arrows, it can show you the start of a new trend.
However, traders should remember that this indicator does not work well in ranging markets.
During such times you might see multiple buy or sell signals.
Therefore, it is recommended to use the half trend indicator alongside other technical indicators such as an oscillator to confirm the trend.
Increasing Your Win/Loss Loss Ratio
When you add the MDZ price action indicator and use it together with a proven system like the Elite Swing Trader System or Simple Trend Trading System, you can only expect to achieve a better win ratio and better risk-reward ratio.
Recommended Time Frames
Technically speaking, you can use this MT4 indicator for all time frames.
However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly.
We recommend that you use higher time frames like the H4 for better consistency.
How to Install Custom Indicators on MT4 on Windows
How to Install Custom Indicators on MT4 on Mac OS
Visit our Free MT4 Indicator Download page.
We hope you have enjoyed this post as much as we have created this strategy post for you.
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