Golden Lion Trend V3 Indicator
Golden Lion Trend V3 Indicator For MT4 changes forex candlestick color based on bullish or bearish price trend. Provides forex trend direction and strength
Description
The Golden lion trend v3 indicator for MT4 is a forex trend indicator that changes candlestick color based on the trend direction and strength. As a result, forex traders can enter the markets and plan trading strategy according to the trend strength. Furthermore, the candlestick color change acts as the entry signals.
The indicator works well in all intraday charts as well as daily, weekly and monthly charts. So, it is suitable for scalpers, day traders, and short and long-term forex traders. Additionally, it is easy to apply and use for new and advanced forex traders. As a trend indicator, traders can use it in auto trading strategies.
Golden Lion Trend V3 Indicator For MT4 trading Signals
The indicator changes the candlesticks in 4 different colors. Light blue for uptrend and dark blue for strong bullish price trend. Similarly, pink represents downtrend and red for strong bearish price trend. The trading strategy is to enter the markets if the color changes to bullish or bearish.
Traders can place buy trades upon the appearance of a light blue or dark blue candlestick. It is important to secure this position by placing a stop loss below the previous swing low. On the other hand, this indicator does not provide a profit target so traders should exit with good RR.
Similarly, traders can open sell positions and trade the market with the above stop loss and take profit strategy. As this indicator works well in all chart time frames, traders can enter in higher time frame trend direction to increase the win ratio.
Conclusion
In summary, the Golden lion trend v3 indicator for MT4 is an essential tool for forex trend traders as it helps them identify both direction and strength.