Trend Striker Extreme is a simple trend-following forex trading indicator, specially designed for newbie traders. It signals the current trend status based on the last 48 candlesticks over the selected period of time. It also shows the trend strength and spread information on the top left of the chart. Trading forex using the Trend Striker Extreme indicator is so easy that traders with any level of experience will be able to apply it for real trading purposes.
Trend Striker Extreme can be applied to trade all kinds of forex currency pairs. Besides, this indicator suits with all sorts of timeframe charts within the MT4 trading terminal.
Trend Striker Extreme Overview
After the installation of the indicator in the MT4 platform, your trading chart will appear like the following image:
Trend Striker Extreme Explanation
Trend Striker uses a very simple technique to demonstrate the trend signals of the market. It plots colored vertical lines in order to signal the market trends. The color of the lines turns blue when the trend is bullish and turns red in case of the bearish trend.
Whenever the indicator signals a change in the market trend, you’ll need to look for a candlestick bar that matches the trend signal for the confirmation of opening a position. For trade exits, either you can wait for an opposite trend signal to your entry or you can exit when your desired risk to reward ratio is achieved.
Trend Striker: Buy Conditions
- The indicator plots blue vertical lines below the price bars
- A bullish candle closes in line with the bullish trend signal
- Buy triggers at the break of the respective bullish bar’s high
- Set stop loss below the current market low
- Exit long/take profit whenever your trade hits your desired target or the indicator signals for the bearish trend
Also Read: CAP Channel Indicator
Trend Striker: Sell Conditions
- The indicator plots red vertical lines below the price bars
- A bearish candle closes in line with the bearish trend signal
- Sell triggers at the break of the respective bearish bar’s low
- Set stop loss above the current market high
- Exit short/take profit whenever your trade hits your desired target or the indicator signals for the bullish trend