Trend Friend Follow MT4 Indicator – Free MT4 Indicator 

 May 30, 2016

By  Advanced Strategies

In this strategy, we’ll cover a custom signal indicator, called Trend Friend Follow MT4 Indicator. It is worth mentioning that it has a very clear and simple structure, and if you’ll follow the rules, you can easily make the trend your friend. This MT4 custom indicator uses two moving averages, and namely exponential ones (EMA), and the MACD oscillator.

[sociallocker id=”8002″] Trend Friend Follow MT4 Indicator Download  + Claim Your FREE USD30 [/sociallocker]

It represents a table with columns and lines – the lines go for the two EMAs + the MACD, and the columns represent different timeframes, like M1, M30, H1, and so on. Visually, it looks like this:

Trend Friend Follow MT4 Indicator
Trend Friend Follow MT4 Indicator

You can clearly see the MACD line above, and then the 2 EMAs following it below. The first EMA has the period 12, which means it has a status of a fast EMA, and the second one has the period 24, which is slower. Now, this structure is very important. It actually comprises the most important basic information about the price action and gives not one, but a multitude of signals, which together can point to a strong upward or downward trend that it’s going happen.

The moving averages are the most important trend indicators and they stay at the center of most of the more complex indicators and strategies that you may know – like Bollinger Bands, Parabolic SAR, and many others. On the other hand, MACD represents the basic oscillator that perfectly completes the 2 EMAs.

So, this small piece of table contains a list of signals of huge importance, and you can really benefit by reading what they say. Next, I will show you how to use this indicator by describing a simple strategy based on this.

Trend Friend Follow MT4 Indicator Chart Setup

  • This strategy refers to day trading, so it is preferably to operate with short term timeframes, such as M1, M5, and M15, even if you will see the indicator includes signals for H1 and H4 as well.
  • Choose any currency pair that you like, yet it should be a major;
  • The only indicator you need is the Trend Friend Follow MT4 indicator, as mentioned;
  • Trading sessions – US and European trading sessions;

Trend Friend Follow MT4 Indicator Long Entry Rules

Once you choose your timeframe, like M5 or M15, you should make sure that all of the important Trend Friend Follow signals are green. Now, what are the important signals for you? If you trade on the M5 chart, first of all you should follow the second column, and then, the next 2 ones (M15 and M30). Once all of the signals from these three columns are green, you can open a long position. If you trade on the M15 chart, you should look at the third column, and then at the next 2 (M30, H1), to make sure you find there all of the signals turned green and then open the long position. However, in order to make your general entry signal more precise and accurate, it is highly recommended to pay attention to the previous column too. If all of the signals turn green, you can buy (as shown in the image below). The larger timeframes show the more general trend, the smaller timeframes change their signals more frequently because of the price fluctuations.

Trend Friend Follow <a href=https://www.forexstrategieswork.com/auto-fibonacci-retracement-indicator-mt4/ srcset=
MT4 Indicator Long Entry Rules ” width=”975″ height=”585″/> Trend Friend Follow MT4 Indicator Long Entry Rules

The profit is taken manually, once the previous columns (left) start to turn red. The stop loss can be set 15-20 pips below the current price.

Trend Friend Follow MT4 Indicator Short Entry Rules

All of the long position rules described above should be considered for the short position, but at this time the signals should be red (SELL). The profit is taken manually, when the previous columns turn green, and the stop loss can be set at 15-20 pips above the current price.

Trend Friend Follow MT4 Indicator Short Entry Rules
Trend Friend Follow MT4 Indicator Short Entry Rules

Trend Friend Follow MT4 Indicator Recommended Time Frames

Technically speaking, you can use this 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 4H for better consistency.

Trend Trading Basics Explained Video Tutorial

Trading with the Vortex MT4 Indicator Video Tutorial

Trend Friend Follow MT4 Indicator Download

We have provided this powerful trend trading indicator to you at no cost. We humbly request for your help to spread the word by sharing on one of the social platforms below. To unlock the download link, you just need to share this page to help us achieve our goal of helping more traders out there.

[sociallocker id=”8002″] Trend Friend Follow MT4 Indicator Download  + Claim Your FREE USD30 [/sociallocker]

Leave us a comment below to let us know your thoughts on this indicator. If you like this indicator, you might like see other indicators that we have carefully selected that will help you in your trading journey.

And if you can, you really should invest in a proven MT4 Expert Advisor to help you generate some profit on full autopilot.

We highly recommend this powerful MT4 Expert Advisor.

Visit our Free MT4 Indicator Download page.

We hope you have enjoyed this post as much as we have creating it.

Good luck and thank you for your readership.

Claim Your $60 No Deposit Bonus Here

All you need is to have your live account verified!
Of course, you need to open a live account...

2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!

Broker #1

Broker #2

We use both of these brokers and proudly promote them!

NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.

Other Analysis Today

Advanced Strategies

Your Signature

related posts:

AUD/USD Daily Price Forecast – 23rd May 2024

USD/JPY Daily Price Forecast – 22nd May 2024

AUD/CHF Daily Price Forecast – 21st May 2024

Leave a Reply:

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Get in touch

Advanced Forex Strategies