Free Forex Indicators (MT4), Trend Following Indicators

Dynamic Average Foot Bar MT4 Indicator

Dynamic Average Foot Bar MT4 Indicator is a Heiken Ashi based trend-following forex trading indicator. It applies Heiken Ashi in a smart way by modifying it for less lagging and making it more comprehensive for the traders. The signals are generated in a pretty simple way so that everybody can manage to read the trend status of the market and act accordingly.

Dynamic Average Foot Bar MT4 Indicator can be applied to trade all kinds of forex currency pairs available in the market. Furthermore, this tool suits well with all sorts of timeframe charts available within the MT4 trading platform.

Dynamic Average Foot Bar MT4 Indicator Overview

Download the MT4 Indicator and install it to your MT4 terminal. Once you’re done, your chart will appear like the following image:

Dynamic Average Foot Bar MT4 Indicator Overview

Check Out: eToro Broker Review

Dynamic Average Foot Bar MT4 Indicator Explanation

Dynamic Average Foot Bar MT4 Indicator uses a 3-day counting period of moving averages based on Heiken Ashi in order to signal for the market trends. It is a default set up which generates frequent signals and suits best with short-term tradings.

Dynamic Average Foot Bar MT4 Indicator Explanation

If you’re planning to apply it for day trading purposes, we recommend you to change the counting period to 21-day for greater signal accuracy. Price candles closing above the average line of the indicator and the bars turn green means the trend is bullish. For the bearish trend, the price must close below the average line and the bars must turn into red color.

Dynamic Average: Buy Conditions

Dynamic Average Buy Conditions
  • Price candles keep closing above the average trend line of the indicator
  • The indicator bars turn into green color
  • A buy entry can be triggered when the above conditions are met
  • Set stop loss below the average trend line of the indicator
  • Exit long/take profit whenever the price candles turn red

Dynamic Average: Sell Conditions

Dynamic Average Sell Conditions
  • Price candles keep closing below the average trend line of the indicator
  • The indicator bars turn into red color
  • A sell entry can be triggered when the above conditions are met
  • Set stop loss above the average trend line of the indicator
  • Exit short/take profit whenever the price candles turn green
Share:

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.

Leave a Comment

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.
RoboForex Welcome Bonus