Cynthias Trend Bars Indicator
MT4Cynthias Trend Bars Indicator For MT4 identifies current price trends and provides forex trading buy and sell signals upon trend change
Description
The Cynthias trend bars indicator for MT4 identifies bullish and bearish forex trends and changes the candlestick color accordingly. This helps the forex traders to identify existing market trend and identify any trend changes. As a result, the indicator works well in trend following trading strategies.
The indicator is suitable for new and advanced forex traders. It works well in all chart time frames and is best suited for multi time frame (mtf) trading strategies. Since, the trading signals are based on color change the indicator is suitable for forex auto trading strategies. Furthermore, all kinds of traders including scalpers, short term, long term forex traders can use this indicator for trend following and trend changes.
Cynthias Trend Bars Indicator For MT4 Trading Signals
If the current market trend is bearish the indicator changes the candle color to purple candle color, while the green color candle represents a bullish market trend.
If the candle color changes from purple to green it indicates the beginning of a bullish market trend. So, traders should enter the market with a Buy trade and place a stop loss below the previous swing low. Furthermore, they can book the profits at an opposite trading signal or with a good risk reward ratio.
Similarly, if the candle color changes from green to purple traders should consider entering the market with a sell position. Since this is a trend indicator, scalpers should check the candle color of a higher time frame and stay in the same direction for best results.
Conclusion
The Cynthias trend bars indicator simplifies identification of trend direction and helps forex traders to buy and sell profitably. Furthermore, it helps traders for multi time frame trading strategies and automated trading strategies.
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