BS Trend Indicator is simply the best among other histogram based trend following indicators. It uses a separate indicator window and signals the trend states in a very easy way that can be followed by any newbie trader. Great backtest report suggests that this indicator is a higher winning forex trading tool.
BS Trend Indicator is very much suitable to trade all major forex currency pairs. Besides, it fits with all sorts of timeframe charts at MT4 terminal. Therefore, traders of all kinds have a great opportunity to be benefited from this sophisticated trend finder.
BS Trend Indicator Overview:
After the installation of this indicator at your forex MT4 terminal, your trading chart will appear like the following image:
BS Trend Indicator plots histogram bars to signal the trend status. Bars closing above the zero level signals the bullish trend. On the other hand, bars closing below the zero level indicates the trend as bearish. Trade must be made according to the trend direction. Going against the trend is risky and may cost you more compared to the return. While on a trade you should make the exit decision only when you find the indicator signaling the opposite trend to your trade direction.
BS Trend Indicator: Buy Parameters
- It’s bars closes above the zero level
- A bullish bar appears at the bottom area of the chart
- Enter long at the break of the bullish bar’s high
- Set stop loss below the nearest swing low
- Exit long/take profit when the bars continue to close below the zero level
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BS Trend Indicator: Sell Parameters
- It’s bars closes below the zero level
- A bearish bar appears at the top area of the chart
- Enter short at the break of the bearish bar’s low
- Set stop loss above the nearest swing high
- Exit short/take profit when the bars continue to close above the zero level
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