The trend finder indicator is a Meta trader indicator that is used in forex trading system. This indicator is used to detect trends in the market situation. It is used to detect the factual breakouts that can use take profit and stop-loss strategies. It is an admired trading indicator used to draw buy and sell signals. This indicator uses all the currency pairs to trade.
Trend finder indicator is applicable for all the timeframes but the best timeframe for this indicator is four hours. It plots the data on the histogram chart. The right usage of this indicator brings more profitable trade and helps the traders to make an accurate and profitable trade. It is the best indicator that is used to detect the long term trades in the market trend.
CHARACTERISTICS of TREND FINDER INDICATOR: -:-
The trend finder indicator has many characteristics. Some of them are discussed here. This indicator can use all the timeframes to trade but the most preferred time for this indicator is 1-minutes, 10-minutes, 1-hour, 4-hours, and 1-Day. This indicator uses all the currency pairs to trade; it can trade with any currency pair that is available at that time. It can be used in any trading session; no matter it is London time session, Tokyo time session, or the New York time session. This indicator is only used for Meta trader platforms.
The trend finder indicator uses a different rule that helps the traders to get a profitable trade. These rules are used for only buy and sell entries and exits. These rules are given below: –
RULES FOR BUY STRATEGY: –
Different rules are used in this indicator. These rules are given below: –
- When the blue candlestick pattern appears on the indicator chart and two lines blue and red lines appear on the same time, the blue line is crossing the red line and starts to move in an upward direction, then it is the time to enter for the buy and the market is trending in the bullish trend.
- When a bullish trend starts trending in the market trend and it starts moving down then it is the time to place buy strategy and stop-loss at that time.
- When the blue line starts moving downward and the red line is moving above then it is the time to exit the buying strategy and take profit.
RULES FOR SELL STRATEGY: –
- When the red candlestick pattern appears on the indicator chart and two lines blue and red lines appear on the same time, the red line is crossing the blue line and starts to move in a downward direction, then it is the time to enter for the sell and the market is trending in the bearish trend.
- When a bearish trend starts trending in the market trend and it starts moving upward then it is the time to place sell strategy and stop-loss at that time.
- When the red line starts moving upward and the blue line is moving below then it is the time to exit the selling strategy and take profit.
USES OF TREND FINDER INDICATOR: –
The trend finder indicator has many uses. Some are mentioned here. This indicator is used to detect whether the market is trending in a bearish trend or the bullish trend. It is one of the best trend finder indicators. All type of traders (beginners, advanced, and expert traders) can use Trend finder indicator. It is one of the easiest indicators that is used to overcome the chances of the risk and help the traders to find different trends in Forex Market.
• Trend finder indicator is used to indicate strength trend in the trade.
• Its calculations are based on moving average price.
• It is used to differentiate between trending and non-trending conditions.
• It helps to identify profitable trade.
• From the rise and fall of lines in the Trend finder indicator graph, the traders sense the price climax.
HOW TO INSTALL Trend finder indicator:
• First step: – Download the Trend finder indicator for Meta Trader 4 platform.
• Second step: -Copy Trend finder indicator for Meta Trader 4. mql4 to your Meta trader Directory/experts/indicators/
• Start or restart your Meta trader 4 Client.
• Select Chart and Timeframe where you want to test your MT4 indicators.
• Search “Custom Indicators” in your Navigator mostly left in your Meta trader 4 Client.
• Right-click on Trend finder indicator for Meta Trader 4.mq4.
• Attach to a Chart
• Modify settings or press ok
• In the end, the Trend finder indicator for Meta Trader 4.mq4 is available on your Chart.
How to remove Trend finder indicator:
• First step: Select the Chart where is the Indicator running in your Meta Trader 4.
• Second Step: Right-click into the chart.
• Third step: Indicators list.
• At the last: Select the indicator and delete it.
These are simple and easy steps that you need to follow before starting trade because it gives you buy and sell zone indicator with almost 90% precision.
Ahead you are going to begin in real account trading you need to trade at the minimum for one month as a demo in any MT4 or MT5 brokers. It awards you more potential for getting quality payback in long or short term trading across also moving average.