Trend Strength MT4 Indicator - Free MT4 Indicator

Trend Strength MT4 Indicator – Free MT4 Indicator

As you might already know, understanding trends is crucial to your long term success as a trader. As a trader, you can use the Trend Strength MT4 Indicator to pin point your entries and even exits. On its own, the Trend Strength MT4 Indicator provides you a good indication of the market strength but it should not be used alone. To increase the accuracy, you can combine it with other indicators that you might be familiar with like the Moving Averages or Bollinger Bands.

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Trend Strength MT4 Indicator – Chart Setup

Chances are you will like this indicator for its simplicity. After installing the Trend Strength Indicator onto your MT4 Platform, you should have a similar chart as below.

Trend Strength MT4 IndicatorTrend Strength MT4 Indicator – Chart Setup

Using the Trend Strength Indicator is straight forward. When the line is above 0.00 level then it means that we are in Bull territory. If the trend strength line is below the 0.00 level, then it’s bearish.


Trend Strength MT4 Indicator Trading Rules

While this Indicator is straight forward and simple to use, it’s more important that you keep to a set of trading rules to keep discipline. We have listed down our rules below for entries and exits. Of course, you can set your own rules. The key to correctly using Indicators successfully and profitably is to use the indicator to find repeating patterns in the Forex pair that you are familiar with.

Trend Strength MT4 Indicator - Entry RuleTrend Strength MT4 Indicator – Entry Rules

Entry Rule
When the Trend Strength Line crosses above the 0.00 level, it’s time to go long.
When the Trend Strength Line crosses below the 0.00 level, it’s time to go short.

Exit Rule
Exit the trade when you see the Trend Strength line turning the opposite direction.
This exit rule requires a some monitoring especially if you are trading on shorter time frames.

Stop Loss
For long position, use the session low as stop loss.
For short position, use the session high as stop loss.
Be aware that if the session candle is very long, then your risk is higher. You can either skip the trade or enter a smaller lot size. It’s all about risk management first, profit second.

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 Strength MT 4 Indicator Download

We have provided this useful 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.

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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.

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