The half trend indicator provides enough flexibility to traders as it can be applied to any trading strategy or currency. The key benefit is that the tool can generate both trading and trend signals while being a Moving Average-based tool commonly used to identify trends.
As stated earlier, the instrument can be used for any currency pair while performing preferable techniques and approaches within the MT4 platform. Additionally, users can benefit from enhanced flexibility delivered by the opportunity to select any timeframe on the chart to have the tool applied.
The main idea behind the tool is to provide simpler ways of demonstrating trend and trade signals making them easier for users to read and interpret. Even newbies will find it easy to apply the indicator to meet their trading purposes. Another thing that makes half trend indicator T4 a worthy tool is the ability to use it with other types of technical instrumentation that refers to the trend-following category.
Here is what the tool can do:
To trade the indicator, you will have to use it together with MACD, as it will let you generate input signals that will be plotted in the histogram to cross over the middle line. The majority of traders use the approach as the fundamental technique. A combination of MACD and half trend indicator will result in an even better situation when entry signals you get from the first tool are blended with the signals of potential price reversal generated by the second one.
The tool is quite simple to read while signals it provides are generally true to follow. The purchasing conditions are generally associated with the asset price moving above the indicator’s slope and the half trend turning blue.
Then, you are supposed to see a blue-colored upward candle below the price candle. It is a signal to place a stop-loss order below the indicator. Once you have spotted a red downtrend arrow, you should exit with a long position or set a take-profit order.
The selling conditions are generally associated with the asset price moving below the indicator’s slope and the half trend turning red.
Then, you are supposed to see a red-colored downtrend candle above the price candle. It is a signal to place a stop-loss order above the indicator. Once you have spotted a blue uptrend arrow, you should exit with a short position or set a take-profit order.
The Half Trend indicator MT4 brings all needed aspects to ensure accurate trading and proper decision-making. It can be applied to any timeframe, currency pair, or trading strategy as well as can be used with other popular technical indicators to ensure an enhanced approach. It is free to use and can be easily installed on your trading platform. Users will benefit from accurate market entry/exit signals as well as a chance to identify potential trend direction or price reversal.
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.