Free Forex Indicators (MT4), Trend Following Indicators
WATR Trend Indicator
By Arun Lama
Published On
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.
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
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.
