ZP Super Trend Indicator
PZ supertrend indicator for МТ5 is the best trend following indicator for MT5. Trend reversal indicator for MT5.
Description
The ZP Super Trend Indicator for MetaTrader is a highly customizable trading tool combined with a multi time frame toolbar to analyze multiple trends. It simultaneously shows the current trend conditions of different timeframes.
The indicator works with the average true range (ATR) of the price and a multiplier number to determine the direction of the asset’s trend. In addition, it also has a signal line for buy/sell entries. Moreover, the signal line also serves as a dynamic support/resistance zone.
In addition, the indicator is suitable for beginners, intermediate and advanced forex traders. It is also recommended for trading styles such as scalping, day/intraday trading and swing trading.
How To Trade With ZP Super Trend Indicator
The image above shows the PZ Super Trend indicator on an H1 USDJPY chart. It shows that the trend on the H1 timeframe is bearish, which also coincides with the higher timeframe trends (H4, daily, weekly and monthly). This information suggests a strong bearish trend and confluence for a potential SELL opportunity.
Moreover, the signal line of the indicator also corresponds to the bearish movement. Now, in order to open a SELL order, you can either wait for the price reaction (wick rejection) with the indicator line, or wait for price action confirmation (eg bearish engulfing).
Conclusion
The ZP Super Trend Indicator for MT5 is essentially a trend following tool that will help you keep an eye on the current market conditions on different timeframes at the same time. Finally, it’s free to download.