Free Forex Indicators (MT4), Trend Following Indicators

Tether Line MT4 Indicator

Tether Line MT4 Indicator comes up with an idea of a single indicator that can correctly identify the market trends and can also signal for trade entries at the same time. After a market trend is confirmed, the most challenging part is to determine the timing of the entries. This indicator signals for the possible trend-reversals and lets you catch the momentum from an earlier stage.

Tether Line MT4 Indicator is quite versatile as a technical tool, allows you to choose any forex currency pair to trade on in the market. Furthermore, it suits all sorts of timeframe charts available within your MT4 trading platform.

Tether Line MT4 Indicator Overview

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

Tether Line MT4 Indicator Overview

Tether Line MT4 Indicator Explanation

Tether Line MT4 Indicator 1

Tether Line MT4 Indicator uses a 55-day customized MA for identifying the changes in the market trends. It uses a pretty simple method for demonstrating the trend status and signals. It turns red when the trend is bullish and turns blue when the trend is bearish.

The price will mostly remain above the indicator level during a bullish trend of the market. Oppositely, the price will show a tendency to remain below the indicator level in case of a bearish market trend. The indicator levels can also be treated as a stop-level of the current market trend.

It is very easy to read the signals of the indicator. Therefore, newbie traders who wish to trade within the market trends can be benefited from this simple trend-following forex indicator.

Tether Line: Buy Condition

Tether Line MT4 Indicator 2
  • Price candle closes as a bullish bar above the indicator level
  • The indicator turns red
  • Buy triggers after the above conditions are met
  • Set stop loss below the current level of the indicator
  • Exit long/take profit whenever the indicator turns blue

Also Read: Exness Broker Review

Tether Line: Sell Condition

Tether Line Sell Parameters
  • Price candle closes as a bearish bar below the indicator level
  • The indicator turns blue
  • Sell triggers after the above conditions are met
  • Set stop loss above the current level of the indicator
  • Exit short/take profit whenever the indicator turns red

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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.