Trend Following Indicators, Free Forex Indicators (MT4)

Forex MTN Indicator

Forex MTN is a momentum-based indicator that is best known for signaling the overbought and oversold condition of the market. Moreover, this indicator also generates buy/sell signals and guides its users through the trade exit point as well. Its simplicity of signal demonstrations offers great assistance for the newbie traders who struggle to define the market trend with the required level of accuracy.

Forex MTN fits best with short-term timeframe charts like M1 to M15 thus, works better for scalping and intraday trading purposes. Furthermore, this indicator can be applied to trade any forex currency pairs or financial assets available at the markets.

Forex MTN Overview

Once you’re done with the installation of this indicator at your forex MT4 terminal, your trading chart will appear like the following image: 

Forex MTN Overview

MTN Indicator AnatomyForex MTN Anatomy

Fx MTN uses a separate indicator window to signal the possible momentum status of the market. Its value reaches above 12 means the market is in an overbought condition.

A red dot appears in such conditions signals the sell entry at the market. On the other hand, its value reaches below -12 means the oversold condition of the market. A blue dot appears in such an oversold condition represents an ideal time to go for the long entry.

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Forex MTN: Buy Parameters

Forex MTN Buy Parameters
  • Fx MTN value reaches below -12
  • Fx MTN plots blue dot at the oversold condition of the market
  • But triggers when the above conditions are met
  • Set stop loss below the current swing low of the market
  • Exit long/take profit whenever the indicator value reaches above 12 with a red dot at the top 

Forex MTN: Sell Parameters

Forex MTN Sell Parameters
  • Fx MTN value reaches above 12
  • The indicator plots red dot at the overbought condition of the market
  • Sell triggers when the above conditions are met
  • Set stop loss above the current swing high of the market
  • Exit short/take profit whenever the indicator value reaches below -12 with a blue dot at the bottom.

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.
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