The Cynthias Trend Bars Metatrader 4 forex indicator is quite a popular trend candlestick buy/sell signals generator.
The signals generated from this indicator are very easy to read, even for absolute beginners.
A green colored Cynthias candlestick is said to be bullish while a purple colored candlestick is bearish.
Use this candlestick signals indicator together with a trend following system or strategy.
For instance, combine with Bollinger Bands, a simple moving average crossover system or an exponential moving average.
In an uptrending market, only trade the green colored Cynthias trend bars.
In an downtrending market, only trade the purple colored Cynthias trend bars.
This will increase your successful currency transactions.
Cynthias Trend Bars can be implemented in scalping, day trading and swing trading forex strategies and systems.
The EUR/USD 5-Minute chart below displays the Cynthias Trend Bars Forex Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Cynthias Trend Bars MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open long trade position when the Cynthias Trend Bars are green colored and the overall trend is up.
Sell Signal: Open short trade position when the Cynthias Trend Bars are purple colored and the overall trend is down.
Trade Exit: Close the open buy/sell forex position 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: 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 cynthias-trend-bars.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)