The Trend Finder forex Metatrader 4 indicator is a very popular trading indicator that delivers buy and sell trade signals directly on the chart.
It consists of a blue and red line and generates signals when the blue line crosses the red line or vice versa.
Trend Finder is a typical crossover forex trading system that can be applied to any forex pair and timeframe.
The default period for the SSP is set to 6, but this value can be tweaked to whatever value you need.
Experiment with its settings, they can be accessed directly from the Inputs tab.
Scalpers, day traders and swing traders can benefit from this forex indicator.
Trend Finder can be used as a standalone buy/sell signals indicator or together with other trend trading tools.
The EUR/USD H4 chart below displays the Trend Finder forex indicator in action.
Basic Trading Signals
Signals from the Trend Finder forex MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy position when the blue trend finder line crosses the red line from below (bullish).
Sell Signal: Open sell position when the red trend finder line crosses the blue line from above (bearish).
Trade Exit: Close the open trade 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
Customization options: Variable (CountBars, SSP, Kmin, Kmax, Filter, gAlert) 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-finder-indicator.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)