The Trigger Lines Indicator for MT4 is a trend-based forex buy-sell indicator created for MetaTrader 4 platforms.
With the evolution of online trading, we’ve discovered many methods and strategies to determine the correct trend signals.
However, besides assessing the right trend condition, we also need to spot precise trend-reversal signals so that we can ride a trend from its beginning and maximize our rewards against the risk.
Thankfully, the Trigger Lines Indicator delivers real-time trend reversal signals and also shows the current direction of the price.
This indicator has been created based on Least Square Moving Average(LSMA). According to pour observation LSMA stresses more on spotting the diversity of the price movements rather than showing dynamic S/R levels.
Furthermore, we’ve found this indicator highly reactive to the price action changes. Therefore, we recommend this indicator as a better fit for scalping or day trading individuals.
The Trigger Lines Indicator is a blend of an R-period(24) MA and a 6-period LSMA. It determines the changes in trend directions based on whether the price is closing above or below its trigger line.
When the price moves above the trigger line, the indicator turns blue to signal a buy order following the bullish market trend. On the other hand, when the price drops below the trigger level, the indicator line becomes red signaling a sell order based on the bearish trend condition of the market.
After you activate an order, wait for the trigger line to signal an opposite trend to your entry for considering a trade exit.
Check out: Best Forex Brokers in South Africa
Trigger Lines Indicator for MT4: Buy Conditions
- The price moves above the trigger line
- The trigger line turns blue to signal a bullish trend
- Exit long whenever the indicator turns red
Trigger Lines Indicator for MT4: Sell Conditions
- The price drops below the trigger line
- The trigger line turns blue signaling a bearish trend direction
- Exit sell orders whenever the indicator curve turns blue