The ADX Super Trend forex indicator spots new buy and sell trends based on ADX and a moving average with default period set to 250.
The indicator uses a threshold to filter out false buy and sell signals. The default threshold value is set to 0.00001.
You can change this value to whatever value you want directly from the indicator’s inputs tab.
A bullish trend occurs when the ADX Super Trend indicator draws a blue line on the chart.
Conversely, a bearish trend occurs when the ADX Super Trend indicator draws a red line on the chart.
A blank space between the two signal lines indicates the trend is more range-bound or flat.
Wait for a new red or blue color to appear on the chart. You can stick with your current open position.
This is a super forex trend indicator that works for all kind of trading styles including scalping, day trading and swing trading.
The EUR/USD 30-Minute chart below displays the ADX Super Trend Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the ADX Super Trend MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a long trade when the ADX Super Trend signal line changes color from red to blue (new buy trend).
Sell Signal: Open a short trade when the ADX Super Trend signal line changes color from blue to red (new sell trend).
Trade Exit: Close the open buy/sell trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (MA period, Crossover Threshold, Countbars) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the adx-ma.ex4 into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)