Free Forex Indicators (MT4), Trend Following Indicators

Instantaneous Trendline Filter

Instantaneous Trendline Filter is a dual-MA based trend-following forex trading indicator. It plots a crossover trend signal which is pretty easy to understand and follow, especially by the newbie traders. Besides producing trade signals, it also guides traders through trailing stops of the market trends by using its own dynamic trendline.

Instantaneous Trendline Filter can be applied to trade all kinds of forex currency pairs listed in the financial markets. Furthermore, this trendline filter suits all sorts of timeframe charts within the forex MT4 trading platform.

Instantaneous Trendline Filter Overview

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

Instantaneous Trendline Filter Overview

Instantaneous Trendline Filter Explanation

Instantaneous Trendline Filter is combined with a dual MA-based trendline which is, Alpha 8 and Alpha 11. The indicator applied the Typical calculation method on Alpha 8 and Median on Alpha 11 along with a Standard Deviation factor 0.07.

Alpha 8 moves above Alpha 11 signals for the bullish crossover of the market trend. On the other hand, Alpha 11 crosses above Alpha 8 represents the bearish crossover trend of the market.

Instantaneous Trendline Filter Explanation

Since Alpha 11 stresses more on a larger period of data, you can use its levels as the stop-level of your opened trade positions. An opposite crossover to your trade direction should be granted as a trade exit signal.

Instantaneous Trendline: Buy Conditions

Instantaneous Trendline Buy Conditions
  • Alpha 8 Moves above Alpha 11
  • A bullish candle closes above the current Alpha 8 level
  • Buy triggers after the above conditions are met
  • Set stop loss below the current position of Alpha 11
  • Exit long/take profit once the indicator plots a bearish crossover signal

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Instantaneous Trendline: Sell Conditions

Instantaneous Trendline Sell Conditions
  • Alpha 8 Moves below Alpha 11
  • A bearish candle closes below the current Alpha 8 level
  • Sell triggers after the above conditions are met
  • Set stop loss above the current position of Alpha 11
  • Exit short/take profit once the indicator plots a bullish crossover signal

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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