Hull Trend Indicator
MT4Also Available for MT5Hull Trend Indicator For MT4 plots two hull trend lines to provide bullish and bearish forex trading signals. Best forex trend direction confirmation tool
Description
The Hull trend indicator for MT4 applies two HMA using the high and low of the previous bar to calculate the bullish or bearish market trend. As this indicator uses the hull moving average it reduces the lag associated with moving averages. As a result, forex trend traders get early trend reversal signals to enter and exit the markets profitably.
The indicator is simple moving average crossover based and is suitable for new and advanced forex traders. Furthermore, it works on all intraday price charts as well as the daily, weekly and monthly price charts. Moreover, traders can use this indicator to formulate auto trading strategies.
Hull Trend Indicator For MT4 Trading Signals
The indicator plots the hull trend high line as blue and a red hull trend low line. Moreover, it changes the bullish candle color to blue and bearish candle to red. The trading strategy is to enter the markets upon the crossover of the two hull trend lines or candle color change.
Forex traders should enter a buy trade if the candle color changes to blue. Traders should secure this position with a stop below the previous swing low and book profits at an opposite trading signal. A similar trading strategy can be followed in a bearish condition upon the appearance of a red candle.
Another interesting trading strategy is to identify the trend direction in a higher chart time frame. This enables the trader to enter the markets in the same direction in a lower time frame with confidence.
Conclusion
In summary, the hull trend indicator for MT4 is an effective trend trading tool for forex traders. Additionally, it is a best trend confirmation tool in confluence with other technical indicators for technical analysis.
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