USDCAD Trend MT4 Indicator – Free MT4 Indicator

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The USDCAD Trend MT4 Indicator at core base is a trend following indicator that will only generate signals in the direction of the current trend. Trend trading is one of the easiest and most elegant methods of trading. Trend trading can work on any time frame from the lower 5-minute time frame to the monthly time frame and the USDCAD Trend MT4 Indicator was designed to capture the 1H time frame trend. However, trend trading has one particular downfall associated and that is when we’re not trading in a clear trend bullish or bearish and we’re moving in a sideways market, we can get a lot of whipsaws and thus a lot of false signals. The USDCAD  Trend MT4 indicator (see chart below) is built around the CCI indicator (Commodity Channel Index) and based on a proprietary mathematical formulas that will ensure you’re always on the right side of the market and in the direction of the dominant trend.

USDCAD Trend MT4 Indicator - Buy Sell Signals

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USDCAD Trend MT4 Indicator Settings

There are two sets of setting that can be edited by the user: the stop loss and take profit settings and last but not least there are some other useful settings that can be turned on and alert you when a signal has been generated. Firstly, the “SL/TP Settings” it’s recommended to use the default settings(see Figure 2) as follow:

• ProfitTargetCoef= 16.45
• ProfitTargetATR= 105
• StopLossPips= 141
• pCCI_1=25
• pLongConsty_2=-33.889999
• pShortConsty_2=33.889999

USDCAD Trend MT4 Indicator Settings

The Notification Settings is a handy tool that can alert you of any signals when you’re not around your computer. You can either set up an email alert or a sound alert and even both of them at the same time, so you can always be updated with all the signals generated whether or not you’re in front of your computer.  

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USDCAD Trend MT4 Indicator Trading Rules

Once a buy or sell signal has been generated the USDCAD Trend MT4 Indicator will automatically supply you with a stop loss level and a take profit level as well. You can either use the stop loss and take profit levels initially generated by the indicator or you can exit the trade on reverse signal when the USDCAD Trend MT4 Indicator will generate an opposite signal.

USDCAD Trend MT4 Indicator Trading Rules

Below are the rules when using the USDCAD Trend MT4 Indicator:

• Buy on the blue arrow with a stop loss at and a take profit at ; or you can exit on reverse signal
• Sell on the red arrow with a stop loss at and a take profit at ; or you can exit on reverse signal

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.

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How to trade USDCAD Video Tutorial