Free Forex Indicators (MT4), Trend Following Indicators

SSL Indicator for MT4

The SSL Indicator represents a 10-days moving average specially configured for generating short-term trend reversal signals.

Despite being a day trading tool, the SSL indicator is relatively steady in responding to price changes and generating buy/sell signals. Newbie forex day traders seeking consistent results may find this trend indicator extremely useful.

SSL Indicator for MT4 Overview

The SSL Indicator uses a single trendline plotted with dots that define the current trend condition.

SSL Indicator overview

Besides trend-following trades, the SSL line also assists in spotting solid price breakout levels. However, it may produce false signals during choppy markets. Therefore, using other essential tools like support/resistance and Fibonacci alongside SSL may help you avoid weak trade setups.

Read Out: Right Approach to Forex Trading

SSL Indicator for MT4 Explanation

The assessment of the current trend condition depends on the price level compared to the SSL curve position.

During a bull run, the price always remains higher than SSL. When the price turns lower than the indicator curve, we consider it a bearish trend reversal condition.

SSL Indicator explanation

Monitoring how the price reacts at the trendline is a crucial task for SSL users. Since it doesn’t show a price rejection sign, you’ll need to assess whether the market treats the trendline as support or resistance.

For instance, a bearish pin bar appearing right below the indicator level means the price treats the respective zone as resistance, and it is time to look forward to a selling opportunity.

SSL Indicator for MT4: Buy Conditions

SSL Indicator buy signal
  • The price plots a bullish breakout at the SSL level
  • A bullish candlestick pattern forms right above the indicator’s curve
  • SL below the current trendline zone
  • Take profit after the price drops below the SSL line

SSL Indicator for MT4: Sell Condition

SSL Indicator sell signal
  • A bearish breakout occurs at the SSL level
  • The price plots a bearish candle and treats the trend-curve as resistance
  • SL above the current resistance
  • Exit short when the price moves above the SSL level

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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.

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