Trend Envelopes Indicator is simply the best Forex trend indicator that you may have ever experienced. Because of its simplest look, the easiest method to read astonishing effectiveness as a trend finder, it has taken its place at so many Forex traders’ charts even with their existing strategies for a higher level of success rate.
Trend Envelopes Indicator can be adjusted with all kinds of Forex currency pairs and fits great with all sorts of time frame charts. For its extremely easy manner of use, newbie trend following traders can get an extra advantage over professional market participants at the daily Forex trading market.
Trend Envelopes Indicator Overview
After the installation of the Trend Envelopes Indicator at your Forex MT4 terminal when you load it, your trading chart will appear like the following image:
Trend Envelopes Indicator plots the trend signals with its dynamic moving average slopes. Price closing and holding above the level is considered as the bullish trend and identified as the buy time.
On the contrary, a sell can be triggered if the price closes below the Trend Envelop level confirming the presence of the bearish trend. You’ll find trend Envelopes level as white for bullish trend and green for the bearish trend for a better understanding for basic traders.
Trend following System: Heiken Ashi With CCI System
Trend Envelopes Indicator: Buy Parameters
- Price closes above the Trend Envelopes and gets supported by its level
- Trend Envelope turns white with a bullish candle formed above its level
- Buy triggers when above conditions are met
- Set stop loss limit below current the envelope level
- Take profit whenever price breaks and closes below the envelope’s level
Trend Envelopes Indicator: Sell Parameters
- Price closes below the Trend Envelopes and gets resisted by its level from going further up
- Trend Envelope turns green with a bearish candle formed below its level
- Sell triggers when above conditions are met
- Set stop loss limit above the current envelope level
- Take profit whenever price breaks and closes above the envelope’s level