Free Forex Indicators (MT4), Trend Following Indicators

Volume OCLH MTF Indicator

Volume OCLH MTF Indicator has been developed as a forex trend identifying tool. It mostly works on all sorts of timeframe charts but performs better when used for scalping purposes. This indicator includes a triple trend-filter system for plotting the trade signals with greater confirmations.

Volume OCLH MTF Indicator can be applied to trade all kinds of forex currency pairs in the market. As a simple MTF indicator, it offers great advantages for newbie traders who struggle to catch the right momentum of the market.

Volume OCLH MTF Indicator Overview:

Download and install an indicator on your MT4 terminal. Once you’re done, find your trading chart like the image below

Volume OCLH MTF Indicator Overview

Volume OCLH MTF Indicator Explanation

Volume OCLH MTF Indicator applies a 12-period SigMA including VL Period 3 and HL Period 6. The average calculation process is done using the Linear Weighted method.

The indicator bars, its slope value, and the arrow signal directions all should be signaled for the same entry at the same time as a trade confirmation.

Volume OCLH MTF Indicator Explanation

The indicator value determines the current condition of the market trend. A positive value represents the bullish trend and negative value signals for the bearish trend of the market.

The arrow signals just work as a trend-filter therefore, its direction must be matched with other parameters of the indicator before you confirm a market entry.

Volume OCLH: Buy Conditions

Volume OCLH Buy Parameters
  • The indicator bars are plotted on the positive phase of the oscillator
  • The Volume OCLH value turns positive
  • A green bullish arrow appears below the price candle
  • Buy triggers after the above conditions are done
  • Set stop loss near the current bullish arrow
  • Exit long/take profit whenever the indicator value turns negative

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Volume OCLH: Sell Conditions

Volume OCLH Sell Parameters
  • The indicator bars are plotted on the negative phase of the oscillator
  • The Volume OCLH value turns negative
  • A red bearish arrow appears above the price candle
  • Sell triggers after the above conditions are done
  • Set stop loss near the current bearish arrow
  • Exit short/take profit whenever the indicator value turns negative

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I have been actively trading stocks and currencies since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund which has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

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.