The ADX trend MTF indicator draws accurate buy and sell signals on any currency chart.
Signals are based on the ADX and Heiken Ashi technical indicators.
It’s trend following in nature and works well in trending markets.
The indicator displays the ADX MTF trend in a separate MT4 window while also drawing the buy and sell signals in the main MT4 chart.
Extreme ADX values fluctuate between 0.1094 and -0.1094.
Buy and sell signals goes as follows:
- A green arrow represents a buy signal.
- An orange arrow represent a sell signal.
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
The EUR/USD 1-Hour chart below displays the ADX trend MTF Buy/Sell Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the ADX trend MTF Buy/Sell MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade when the ADX trend MTF Buy/Sell indicator paints a green arrow on the chart.
Place a stop loss below support or use your own preferred SL method.
Sell Signal: Open a sell trade when the ADX trend MTF Buy/Sell indicator paints an orange arrow on the chart.
Place a stop loss above resistance or use your own preferred SL method.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (time frame, ADX trend period, price to use?, alerts) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Copy and paste the adx trend (mtf + arrows + alerts).ex4 indicator 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)