WATR Trend Indicator is a trend-following indicator, used to identify the market trends and also signals for possible trend reversals. It stresses more on recent price data and lags less by reacting very quickly with the changes in price actions. This weighted ATR indicator demonstrates the signals in a very simple process so that even a newbie trader can master it well.
WATR Trend Indicator can be applied to trade all kinds of forex currency pairs available in the financial markets. Moreover, this trendy tool suits all sorts of timeframe charts within the forex MT4 trading platforms.
WATR Trend Indicator Overview
Download the indicator and install it on your MT4 terminal. Once you’re done, your chart will transform like the following image:
WATR Trend Indicator Explanation
WATR Trend Indicator applies a 21-day ATR along with WATR K10 and WATR M4.0 for determining the dynamic trendlines. The indicator curve turns into green color with price closing above its levels are considered as a signal for the bullish trend of the market.
On the other hand, the price remains below the indicator level with the curve turned into a blue color represents the bearish market trend. Besides, these levels can be used as the trailing stops for any of your trend-oriented market entries.
WATR Trend is a stand-alone indicator but you can still add other trend-based indicators along with it for better confirmations.
WATR Trend Indicator: Buy Conditions
- Price moves above the indicator level
- The indicator curve turns into green
- Buy triggers after the above conditions are done
- Set stop loss below the current level of the indicator curve
- Exit long/take profit whenever the indicator turns into blue
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WATR Trend Indicator: Sell Conditions
- Price moves below the indicator level
- The indicator curve turns into blue
- Sell triggers after the above conditions are done
- Set stop loss above the current level of the indicator curve
- Exit short/take profit whenever the indicator turns into green