The TTF within the TTF Indicator Metatrader 4 forex indicator stands for Trend Trigger factor, and is an indicator that is similar to the RSI indicator.
The TTF Indicator Metatrader 4 forex indicator was introduced in the December 2004 edition of the Technical Analysis of Stocks and Commodities magazine by M. H. Pee.
Originally, the TTF Indicator was deployed as a trend identification tool in the stock exchange and commodities market, but its scope has since widened to include the forex markets.
Basically, a buy signal is generated when the value of the TTF Indicator is above -100, while the overall sentiment thus stays bullish when the indicator line is above the zero center line.
On the other hand, a sell signal is initiated when the value of the TTF Indicator is below +100, while sustaining a general bearish sentiment when it is below the zero center line.
The EUR/USD H4 chart below displays the Trend Trigger Factor Indicator Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the light sea green line of the TTF Metatrader 4 forex indicator breaks above -100.
Sell Signal: Go short when the light sea green line of the TTF Metatrader 4 forex indicator breaks below +100.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the light sea green line of the TTF indicator breaks above the +100 level.
Exit sell trade: Close all sell orders if while a bearish order is running, the light sea green line of the TTF indicator dips below the -100 level.
Tips: The TTF indicator allows users to be on the right side of the market, and it achieves this by simplifying the process in which traders deploy when determining bulls/bears market trends.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (TTFbars, TopLine, BottomLine, t3_period, b), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend | momentum
Copy and paste the ttf-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)