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 Explanation
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
- 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
- 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