The BT Trend Trigger MT4 indicator consists of a trend following component and a signal line.
It’s a profitable buy and sell forex signals generator if used correctly.
Pay attention to the thick red line, this is the trend following part of the indicator.
The thick red line must be positioned above the zero level for a bullish trend to occur.
Conversely, the thick red line must be positioned below the zero level for a bearish trend to occur.
The yellow signal line crosses above and below the thick red line, this is how the trading signals are being generated.
A valid buy signal occurs when the trend following component is positioned above the zero level and the yellow signal line crosses above the thick red line from below.
A valid sell signal occurs when the trend following component is positioned below the zero level and the yellow signal line crosses below the thick red line from above.
The GBP/USD 4-Hour chart below displays the BT Trend Trigger Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the BT Trend Trigger MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: The thick red indicator line must be aligned above the 0.00 level (uptrend) AND the yellow signal line crosses back above the thick red indicator line from below.
Sell Signal: The thick red indicator line must be aligned below the 0.00 level (downtrend) AND the yellow signal line crosses back below the thick red indicator line from above.
Trade Exit: Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (TTF bars, t3 period, b, bar begin) 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 bttrendtrigger-indicator.mq4 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)