The Super Trend Signal MTF forex indicator consists of a dual colored buy/sell signal line that works great in trending markets.
Super Trend Signal alternates its color between green and orange.
- The start of the green line signals a buy trade opportunity
- The start of the orange line signal a sell trade opportunity
Close the open position when the signal line changes its color, either from green to orange or from orange to green.
You have the ability to select other timeframes (MTF) directly from the indicator’s inputs tab.
The NZD/USD H1 chart below displays the Super Trend Signal MTF Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the Super Trend Signal MTF MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a new buy position when the Super Trend MTF signal line changes its color from orange to green.
Place a stop loss below the most recent low.
Sell Signal: Open a new sell position when the Super Trend MTF signal line changes its color from green to red.
Place a stop loss above the most recent high.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (period, multiplier, timeframe) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: trend signals
Copy and paste the supertrend_nrp_new_mtf_2.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)