For a buy trend, a deep trend indicator will show in blue colour.

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For a sell trend, a deep trend indicator will show in red colour. You can identify the trend with this indicator. When the price moves down below the neckline after the right shoulder, at that time, if a deep trend indicator will change colour to red then you can enter for a sell trade. When the price moves up above the neckline after the right shoulder at that time, if a forex deep trend indicator will change color to blue then you can enter for a buy trade. Also, you can use the price action method to enter a trade.

TREND Indicator MT4 – Detect Trends Like A Pro

The exit is your choice. Choose the exit method with your experience.

SL When you enter your trade do place stop loss. Use higher high or lower low. TP Exit trade when received the opposite signal or as you wish.

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Otherwise, you can use the Trailing stop. Do you have the mq4 file with code for this indicator i find it quite useful and would like to add an alert to it. Save my name, email, and website in this browser for the next time I comment.

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Forgot your password? Create an account. Continue reading to find out more about it and to download it for free. Look at the chart above. You can see that the trend channel is drawn just as a chartist would do manually.

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The midline of the trend channel is also drawn. When you switch the time frame, the trend channel that matches the time frame is automatically drawn, which is quite convenient. For example, let's focus on the fact that prices tend to change within the trend channel. Therefore, if the price approaches the upper limit of the trend channel, you can expect a potential reversal and aim for a sell order. On the other hand, if the price approaches the lower limit of the trend channel, you can consider placing a buy order see the image below.

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In this case, combining with price action such as pin bar should increase the winning percentage.