Free Forex Indicators (MT4), Trend Following Indicators

Ehlers Fisher Transform MTF

Ehlers Fisher Transform MTF is a forex trend indicator, used to monitor the changes in the market momentum and deliver the trade signals accordingly. This indicator is supported by all sorts of timeframe charts within the forex MT4 trading platform. Therefore, you can apply it for forex scalping, intraday, and day trading all at a time.

Ehlers Fisher Transform MTF can also be applied to trade all kinds of forex currency pairs available in the financial markets. Besides, its simplicity of use offers a great privilege for the newbie trend-following traders.

Ehlers Fisher Transform MTF Overview

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

Ehlers Fisher Transform MTF Overview

Ehlers Fisher Transform MTF Explanation

Ehlers Fisher Transform MTF applies a 30-day Median price calculation method in order the define the indicator value that determines the market trends. It also includes a price & index smoothing tool 0.3 for maintaining a higher accuracy level of its trade signals.

Ehlers Fisher Transform MTF Explanation

The Ehlers Fisher value turns positive with its bars turn into green color when the market trend is bullish. On the other hand, the Ehlers value turns negative and the bars turn red means it is a bearish trend of the market. It has been observed that Ehlers Fisher works better when combined with standard moving averages.

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Ehlers Fisher: Buy Conditions

Ehlers Fisher Buy Parameters
  • The Ehlers Fisher value turns positive
  • The indicator bars turn green at the same time
  • Buy triggers after the above conditions are met
  • Set stop loss below the current swing low of the market
  • Exit long/take profit whenever the Ehler Fisher value turns negative

Also Read: CAP Channel Trading Indicator MT4

Ehlers Fisher: Sell Conditions

Ehlers Fisher Sell Parameters
  • The Ehlers Fisher value turns negative
  • The indicator bars turn red at the same time
  • Sell triggers after the above conditions are met
  • Set stop loss above the current swing high of the market
  • Exit short/take profit whenever the Ehler Fisher value turns positive
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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.