Trend Following Indicators, Free Forex Indicators (MT4)

Alfa Trend Indicator

Alfa Trend Indicator has specially designed for the newbie trend following traders. this indicator is ideal for those who struggle a lot with many complex indicators that create confusion in their decision makings. Here, with this indicator, you’ll just need to pull the trigger according to the direction of the indicator arrow.

This indicator has proved that it is applicable to all sorts of timeframe charts. Furthermore, you’ll be able to trade any forex currency pair by applying this amazing forex trading tool.

Alfa Trend Indicator Overview

After you install the Alfa Trend Indicator at your forex MT4 terminal, your trading chart will appear as the following image:

Alfa Trend Indicator

This indicator uses a dual-trend filter (RVI & centerline) to detect the best possible moment of a trend change. The indicator first confirms the current trend and then plots the trade signal according to the trend direction. An upward arrow signals the long entry with the confirmation of a bullish trend. On the other hand, A downward arrow is plotted when the of a bearish trend is confirmed along with a sell signal.

Alfa Trend Indicator: Buy Parameters

Alfa Trend Indicator Buying Parameters
  • Price bar closes as a bullish trend at the bottom of the chart screen
  • The Indicator Plots an upward arrow right below the signaling candle
  • Buy triggers after the above conditions are met
  • Set stop-loss below the low of the respective candle
  • Exit long/take profit once Alfa Trend Indicator plots a downward arrow

Check Out: Exness Broker Review

Alfa Trend Indicator: Sell Parameters

Alfa Trend Indicator Selling Parameters
  • Price bar closes as a bearish trend at the top of the chart screen
  • The indicator Plots a downward arrow right above the signaling candle
  • Sell triggers after the above conditions are met
  • Set stop-loss above the high of the respective candle
  • Exit short/take profit once the Indicator plots an upward arrow

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I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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About Trend Following System

Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.