Half Trend Indicator-MT4
Half Trend Buy Sell MT4 Indicator is the best trend following indicator, which provides the online forex traders with the accurate trend direction. This non-repainting Metatrader 4 indicator gives live forex BUY and SELL signals with an arrow. The half trend Metatrader indicator also provides the best exit signals.
The half trend MT4 indicator uses moving averages to calculate the accurate signals. As a trend following indicator, online forex traders can apply it on any time frame to trade intraday successfully. As the indicator provides live entry and exit arrow signals with no repaint, forex traders consider it the best trend trading tool.
Additionally, the half trend Metatrader 4 indicator indicates the trend strength. In the absence of a trend, the indicator stays flat. However, if there is a trend, then the indicator slopes towards that direction. The steeper slope indicates the presence of a strong trend. During a strong uptrend, the indicator turns BLUE in color with a steep upward slope.
The above EURJPY H1 chart shows the BUY and SELL arrow signals provided by the indicator. For a BUY situation, firstly, the price has to go above the indicator. Secondly, the indicator has to be in BLUE color. Thirdly, the BLUE color arrow signal must appear from below the indicator.
Oppositely for a SELL Situation, the price has to be below the indicator. And the indicator color should be RED, and the RED arrow’s appearance will validate a SELL Signal.
Once an entry is confirmed and trade is placed successfully. Traders can continue to hold the position and ride the trend with an exit at an opposite signal. A stop-loss can be placed below the previous swing low for a BUY position. Oppositely for a SELL signal, traders can place the stops above the previous high.
Half Trend Indicator-MT4 download link