The Today Trend Signal forex indicator is an excellent choice if you have very little time to trade.
At the beginning of the trading day, the MT4 indicator will give you one trading signal.
Based on its market analysis, today’s trend will give you either a buy or sell signal.
- A blue arrow represents a buy signal.
- A red arrow represents a sell signal.
In brief, every morning you will need to check the chart once and the indicator will provide you with a buy or sell signal.
No additional trading signals won’t pop up until the next day.
The EUR/USD 1-Hour chart below displays the Today Trend Signal Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Today Trend Signal MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy order when the Today Trend Signal forex indicator displays a blue arrow on the activity chart. This is a buy signal.
Place a stop-loss below the most recent swing low level. The default take profit level is set to 30 but can be changed to whatever TP target you need.
Sell Signal: Open sell order when the Today Trend Signal forex indicator displays a red arrow on the activity chart. This is a sell signal.
Place a stop-loss above the most recent swing high level. The default take profit level is set to 30 but can be changed to whatever TP target you need.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (profit target, show target, show reversal) 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 today-trend.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)