The Leman Trend Indicator MT4 is a trend indicator for MetaTrader 4 and is designed to help identify market direction and spot potential entry and exit points. It compares current highs and lows against three look-back periods and resembles dual-band oscillators. However, instead of relying on volatility, it measures the gap between today’s price and the highest highs or lowest lows over your Min, Midle, and Max settings. Then it smooths those gaps with an EMA based on your PeriodEMA input. As a result, you get two adaptive lines that react quickly to shifts in buying or selling pressure.
The Leman Trend Indicator works well in trending markets and highlights momentum shifts. It signals bullish strength when the upper line crosses above the lower, and bearish pressure when it crosses back down. Moreover, it delivers on-screen comments, displays the current signal in the left corner of the chart, and includes optional sound alerts on each crossover. It plots both lines in a separate window for a clear view of market dynamics. Traders can adjust the Min, Midle, Max periods and EMA smoothing.
This indicator is suitable for traders of all skill levels and across all time frames. It is designed for use with any currency pair and integrates into any forex trading system or strategy, to help identify market direction and spot potential entry and exit points.
Indicator Settings
How to Install Leman Trend Indicator MT4
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.
