Trend Traffic Indicator
Trend traffic indicator for mt4 – download free. Best crossover indicator for mt4. Free momentum indicator.
Description
The Trend Traffic indicator for MetaTrader is a custom trading tool that highlights the corresponding actions of the bulls/bears in the forex market. The indicator helps you to identify the party (bull/bear) that is currently dominating the market.
So, in essence, the indicator would come in handy in ensuring that you trade along in the direction of the prevailing trend. This can ultimately translate into higher probability trade entries.
Furthermore, the indicator is user-friendly and may be used by novice, intermediate, and experienced traders for day-day trading activities. Besides, it is also suitable for scalpers and day/intraday traders.
Trend Traffic Indicator BUY/SELL Signals
The above screenshot depicts how the indicator would look on your MT4 dashboard. It also illustrates how to identify a potential trading setup.
The Trend Traffic indicator performs well as a stand-alone indicator. However, it is recommended to be used in synergy with other technical indicators/price action for better accuracy.
The 0.00 level of the indicator divides a trend into bullish and bearish biases. The indicator also comes with two exponential moving averages and histogram bars that represent different trend behaviors.
- Green Bar: This bar indicates bullish/bearish dominance.
- Yellow Bar: This bar indicates a weak trend.
- Red Bar: This bar suggests an imminent change in the current trend bias (e.g. from bullish to bearish).
BUY Signal: Firstly, wait for the Exponential Moving Averages (EMA) to intersect and cross above the 0.00 level as seen in the screenshot above. Now wait for the indicator to paint the GREEN histogram bars (which indicate bullish dominance), and then open a LONG/BUY position in sync with price action.
NB: For optimal trade entry, ensure you always confirm an entry with price action (e.g. bullish engulfing) before opening a BUY/LONG position.
SELL Signal: Firstly, wait for the Exponential Moving Averages (EMA) to intersect and cross below the 0.00 level of the indicator. Now wait for the indicator to paint the GREEN histogram bars (which indicate bearish dominance), and then open a SELL/SHORT position in sync with price action.
Finally, Take Profit and Stop Loss are based on the trading style of a trader. However, as a rule of thumb, you may trail the Stop Loss of a winning trade to maximize the full potential of the setup.
Conclusion
The Trend Traffic indicator for MT4 assists you to easily identify the bias and strength of any tradable asset. What’s more, it is well optimized with different functionalities to help you identify viable trading opportunities in the forex market. Finally, the indicator is available for free.