The Vinini Trend MT4 forex indicator is a great trend following oscillator that fluctuates between -1 and +1.
This indicator does a great job and is profitable in the long-term due to its fake signals filter.
The trend is bullish when the indicator histogram trades above the 0.00 level.
The trend is bearish when the indicator histogram trades below the 0.00 level.
The indicator MA Start value is set at 10 but can be changed to whatever value you need.
You can modify all settings directly from the indicator’s inputs tab.
For scalping use it on the M1 and M5 trading charts (London and U.S. trading session).
For day trading use it on the M5 and M15 trading charts (London and U.S. trading session).
For swing trading use it on the H1 and H4 trading charts (any session).
The EUR/USD H1 chart below displays the Vinini Trend forex indicator in action.
Basic Trading Signals
Signals from the Vinini Trend MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Initiate a buy trade when the Vinini Trend forex indicator crosses above the zero level from below (bullish trend).
Sell Signal: Initiate a sell trade when the Vinini Trend forex indicator crosses below the zero level from above (bearish trend).
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 (MA_Start, MA_Step, MA_Count, MA_Mode, Limit) 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 vinini-trend-indicator.mq4 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)