Trend Strength Indicator MT4 | Free Download
The Trend Strength Indicator MT4 is a modification of the MACD indicator that is one of the most popular indicators in Forex.
On top of this, a few additions make the Trend Strength Indicator into a unique trend direction indicator.
Due to its histogram and signal line, the Trend Strength Indicator resembles somewhat like the MACD indicator.
When to go long using the Trend Strength Indicator MT4?
Take a long position when the Trend Strength Indicator is blue, ideally below the zero line.
This is the signal to be prepared.
Following this, wait for the signal line to make a crossover and the histogram turns or remains blue above the zero lines.
When to exit your long positions?
Because this is a Trend Strength Indicator, simply exit your position when you see the trend to be weakening.
Alternately, it is always advisable to make use of a fixed risk to reward ratio.
When to go short using the Trend Strength Indicator
For the short position, wait for the Trend Strength Indicator to turn red, when it is above the zero line.
Then simply wait for the signal line to cross over the histogram and then go short a the open of the next position.
When to exit your short positions?
As with long positions, exit your short positions when the trend begins to weaken. You can of course choose a fixed risk to reward ratio to remain consistent.
Where to set the stop loss using the Trend Strength Indicator?
The stop loss for both long and short positions are to be set at the highs or the lows that occur prior to taking the long or short position.
This will ensure that your stops are at a valid price level.
The Trend Strength Indicator can be a useful tool in your trading toolkit.
Because of its simplicity, it eliminates the need for other additional indicators to ascertain the trend.
The Trend Strength Indicator is versatile and can generate steady profits over time.
The Trend Lord Indicator is very useful in capturing trends in the market.
This is a great way to ride the trend and also to make some big profits.
However, the key is in avoiding the ranging markets, where this Indicator does not work so well.
Therefore, it is best to use other indicators along with the Trend Lord Indicatorto filter out only the strongest signals.
How to Increase Your Winning Ratio with the Trend Strength Indicator?
When you add the Stochastic Cross Alert Indicator and use it together with a proven trend trading system like the Elite Swing Trader 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 or even higher for better consistency.
How to Install Custom Indicators on MT4 on Windows
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