The Jurik Trend Strength forex MT4 indicator is an oscillator type buy and sell trading signals indicator.
The indicator oscillates in a separate window below the main activity chart.
You will notice that the Jurik indicator draws 2 colored lines, green and red.
Green colored lines indicate the price is short-term bullish.
Conversely, red colored lines indicate the price is short-term bearish.
Use this indicator together with a trend-following technical analysis indicator for more reliable buy/sell signals.
Works for all kind of trading styles including scalping and day trading.
The USD/JPY H1 chart below displays the Jurik Trend Strength forex indicator in action.
Basic Trading Signals
Signals from the Jurik Trend Strength forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade when the indicator draws a green line.
Sell Signal: Open sell trade when the indicator draws a red line.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
For better results, combine with a trend indicator and only trade in the overall direction of the trend.
Trend up? Only trade green Jurik lines and avoid the red ones.
Trend down? Only trade red Jurik lines and avoid the green ones.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (Rsxlength, Price, SmoothLength, SmmothPhase, K) 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 jurik-trend-strength.mq4 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)