Free Forex Indicators (MT4), Trend Following Indicators

Forex Trend Direction Indicator

Forex Trend Direction Indicator detects the best possible trend-swing areas of the market. Besides trend signals, it also updates the stop-loss level of any current trend on an automatic basis and guides you through your every trade until you exit.

An easy method of signal display and better accuracy in regular trend detection has made this indicator widely accepted by forex trend following traders.

Forex Trend Direction Indicator can be used to trade all kinds of forex currency pairs. Moreover, it fits with all sorts of timeframe charts to enable all kinds of trend-based traders to trade in their favorite timeframes.

Forex Trend Direction Indicator Overview:

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

Forex Trend Direction Indicator Overview

Forex Trend Direction Indicator plots a dotted slope around the price bars along with up/downward arrows to signal the trends. For a long entry along with the bullish trend confirmation, the price must hold its position above the slope and an upward arrow must be plotted below the signaling candle.

Price keeps its position below the indicator slope signals the bearish thrust of the trend. In such a case, you need to wait for a downward arrow to be plotted for the short confirmation. For a long entry keep the stop loss level below the indicator slope and for a short entry, keep the stop loss level right above the respective slope area.


Forex Trend Direction Indicator: Buy parameters

Forex Trend Direction Indicator Buy parameters
  • Price closes above the Forex Trend Direction Indicator slope
  • An upward arrow is plotted below a newly formed bullish bar
  • Enter long when the above conditions are met
  • Set stop loss below the slope area
  • Take profit/exit long whenever a downward arrow is plotted

Forex Trend Direction Indicator: Sell parameters

Forex Trend Direction Indicator Sell parameters
  • Price closes below the Forex Trend Direction Indicator slope
  • A downward arrow is plotted above a newly formed bearish bar
  • Enter short when the above conditions are met
  • Set stop loss above the slope area
  • Take profit/exit short whenever an upward arrow is plotted

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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