The Trigger Lines Metatrader 4 forex indicator is made up of moving average lines that are used to generate buy and sell signals in any currency pair.
The Trigger Lines indicator offers a clear technical insight on when to go long or short.
It is an indicator that provides credible entries and exits when the trigger lines crosses.
The color of the trigger lines during crossings are uniquely altered to further define the prevalent market trends.
In addition, bullish signals are depicted by a hot pink & aqua trigger line, while a yellow and red trigger line points to bearish market sentiments.
Forex traders can remain in a position until the trigger lines intersects.
The GBP/USD H1 chart below displays the Trigger Lines Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the hot pink and aqua lines of the Trigger Lines Metatrader 4 forex indicator gets aligned somewhat below the candlesticks following its crossing.
Sell Signal: Go short when the yellow and red lines of the Trigger Lines Metatrader 4 forex indicator gets placed slightly above the candlesticks following its intersection.
Exit buy trade: Close all buy orders if while a bullish trend is running, the Trigger Lines indicator intersects.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Trigger Lines indicator crosses.
Tips: The Trigger Lines indicator is designed to help traders spot trend reversal in a timely fashion, which makes it a reliable tool for short-term traders.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (Rperiod, LSMA_Period), 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 trigger-lines.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)