Free Forex Indicators (MT4), Trend Following Indicators

FX Fish Indicator

Trend-following oscillators are always attractive to trade with because of its simplicity of use and easy chart demonstration. FX Fish Indicator is such a trend-based forex trading oscillator indicator that signals for the market trends and trade entries in a way so that everybody can read and understand its signals and presentations.

FX Fish Indicator allows you to choose any forex currency pair you like to trade within the financial markets. In addition, it can be applied to trade on all sorts of timeframe charts of your MT4 trading platform.

FX Fish Indicator Overview

Download the Indicator and install it on your MT4 terminal. Once you’re done, find your trading chart like the image below:

FX Fish Indicator Overview

FX Fish Indicator Explanation

FX Fish Indicator accumulates a 10-day period of price action data and transforms it into trend-oriented trade signals. It uses its histogram bars for demonstrating the indicator value and the trend signals. The bar turns green when the indicator value turns positive signaling a bullish trend of the market.

FX Fish Indicator Explanation

On the other hand, for bearish trend confirmation, the indicator bars must be turned into a red color carrying a negative value. In either way, the size of the bar gets larger when the trend gets stronger.

The indicator value roams near its zero level means the market is in a neutral trend or a “no trade” condition. FX Fish is a standalone indicator. However, you may add other trend-following forex indicators with it to build up a fruitful trading strategy.

FX Fish: Buy Condition

FX Fish Buy Conditions
  • The indicator value turns positive
  • FX Fish bars turn into a green color
  • Buy triggers when the above conditions are done
  • Set stop loss below the current low of the market
  • Exit long/take profit whenever the indicator bars turn into a red color

Also Read: XM Review – An Extensive Broker Review

FX Fish: Sell Condition

FX Fish Sell Conditions
  • The indicator value turns negative
  • FX Fish bars turn into a red color
  • Sell triggers when the above conditions are done
  • Set stop loss above the current high of the market
  • Exit short/take profit whenever the indicator bars turn into a green color

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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