If you fall under the category of folks who’re keen on knowing where price is heading by just taking a quick glance, then the Trend Master Indicator Metatrader 4 forex indicator is certainly for you.
It is an indicator that undoubtedly eliminates the stress of looking back and forth between different timeframes to understand what’s going on in the market.
On the activity chart, the Trend Master Indicator appears in the form of blue upward pointing arrows and red downward pointing arrows, with users interpreting them as bullish and bearish market sentiments respectively.
There are several ways in which the Trend Master Indicator can be utilized, one of which is as a tool that allows traders know when a trend is making a reversal or as an exit/entry level finder.
The USD/JPY M5 chart below displays the Trend Master Indicator Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the blue upward pointing arrow of the Trend Master Indicator Metatrader 4 forex indicator gets placed somewhat below the candlesticks.
Sell Signal: Go short when the red downward pointing arrow of the Trend Master Indicator Metatrader 4 forex indicator gets aligned fairly above price bars.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the red downward pointing arrow of the Trend Master Indicator pops up.
Exit sell trade: Close all sell orders if while a bearish trend is running, the blue upward pointing arrow of the Trend Master Indicator gets on display.
Tips: Utilizing the Trend Master Indicator for short and long term trading is a nice way to simplify price information.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (RISK, CountBars), 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-master-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)