The Trend Continuation forex indicator for MT4 acts similar to the well-known ADMI indicator.
However, this version works with T3 period and T3 continuation factor to generate its trend seeking signal lines.
The Trend Continuation indicator consists of two colored signal lines. A new trend occurs when they cross each other.
- A buy signal occurs when the green signal line crosses back above the orange signal line from below.
- A sell signal occurs when the orange signal line crosses back above the green signal line from below.
The indicator can be used as a standalone on the higher timeframes or mixed together with other technical indicators or price analyze methods for scalping and day trading pairs on the lower timeframes.
Feel free to play with the input T3 parameters.
The EUR/USD 5-Minute chart below displays the Trend Continuation Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Trend Continuation MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade position when the green signal line of the Trend Continuation MT4 indicator crosses back above the orange signal line from below. Place a stop-loss below the previous swing low price.
Sell Signal: Open sell trade position when the orange signal line of the Trend Continuation MT4 indicator crosses back above the green signal line from below. Place a stop-loss above the previous swing high price.
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 (T3 period, T3 continuation) 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 trend-continuation-factor.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)