Free Forex Indicators (MT4), Trend Following Indicators
Vidya Zone MT4 Indicator
By Arun Lama
Published On
Vidya Zone MT4 Indicator has been developed based on multiple MAs with special parameters for producing trend-following trading signals. It uses only a 3-band signaling system for defining market support, resistance, and trends. Vidya Zone is very simple to understand and apply thus offers great advantages for newbie traders.
Vidya Zone MT4 Indicator can be applied to trade all kinds of forex currency pairs available in the financial markets. Moreover, this sophisticated tool suits all sorts of timeframe charts within the MT4 trading platform.
Download and install the indicator on your MT4 terminal. Once you’re done, your chart will appear like the following image:
Vidya Zone MT4 Indicator Explanation
Vidya Zone MT4 Indicator has been built with a 10-day CMO including a smoothing period of 9. Its upper band represents the market support areas.
The midline serves as a dynamic trendline, and the lower band outlines the current resistance levels of the market.
Once you’re confirmed about the market trend using the midline, you’ll have to look for price action signals at the support/resistance areas that match with the direction of the new market trend.
Besides defining the key market areas and trends, its levels can also be used for determining the stop-loss levels of your opened market positions.
Vidya Zone: Buy Conditions
Price closes above the midline level
A bullish candle closes right above the upper band area
Buy triggers once the above conditions are met
Set stop loss below the lower band area of the indicator
Exit long/take profit whenever price hits below the lower band level
I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.
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.
