The Forex Trend Scanner MT4 Indicator is a trend indicator for MetaTrader 4 and is designed to indicate the general direction of a trend. The indicator provides a clear visual representation of market trends through color-coded candlesticks. For a bullish trend, the lime green color of the candlesticks indicates a strong bullish trend while dark green signals that the bullish trend is losing momentum. For a bearish trend, red represents an ongoing bearish trend while maroon suggests that the bearish trend is weakening. This indicator provides a straightforward yet powerful method to interpret market trends, by simply analyzing the color of the candlesticks enabling more informed and strategic trading decisions.
This indicator is suitable for traders of all skill levels and across all time frames. Its versatility extends to trading multiple currency pairs within any forex trading system or strategy, to identify the general direction of a trend.
Indicator Settings
How to Install Forex Trend Scanner MT4 Indicator
Download and extract files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:
The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.
