Free Forex Indicators (MT4), Trend Following Indicators

KG Wave Minor Indicator

KG Wave Minor Indicator is a trend-following forex trading indicator, well-known for its simplicity of use and easy demonstrations of its trend signals. Besides signaling for the market trend and possible trading opportunities, this indicator also guides its users through the exits of the market entries.

KG Wave Minor Indicator is quite popular for its versatility as a trend indicator. It can be applied to trade all kinds of financial instruments including forex currency pairs, Cryptocurrencies, stocks, CFDs, and futures. Moreover, it suits all sorts of time frame charts available within the MT4 trading platforms.

KG Wave Minor Indicator Overview

After the installation of the indicator at the MT4 terminal, your trading chart will appear like the following image:

KG Wave Minor Indicator Overview

KG Wave Minor Indicator: Explanation

KG Wave Minor Indicator Explanation

KG Wave Minor Indicator plots colored bars at its oscillator window to help traders understanding the value status of the indicator. The bars turn blue carrying a positive value represents the confirmation of the bullish market trend and signals for possible long entries. On the other hand, red bars carrying negative value is considered as the validity of the bearish market trend and signals for potential short entry opportunities. The color of the bars changes after making an entry is considered as the trade exit signal.

Check out: Oracle Momentum Cross Forex Trading Strategy

KG Wave: Buy Parameters

KG Wave Buy Parameters

  • The indicator plots blue bars above the zero/neutral level
  • Price bar closes as a bullish candle at the same time
  • Buy triggers at the break of the respective bullish candle’s high
  • Set stop loss below the current low of the market
  • Exit long/take profit whenever the indicator starts to plot consecutive red bars 

KG Wave: Sell Parameters

KG Wave Sell Parameters

  • KG Indicator plots red bars below the zero/neutral level
  • Price bar closes as a bearish candle at the same time
  • Sell triggers at the break of the respective bearish candle’s low
  • Set stop loss above the current high of the market
  • Exit short/take profit whenever the indicator starts to plot consecutive blue bars

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I have been actively trading stocks and currencies since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund which 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.