A short-term trend following signal indicator for Metatrader 4. A green arrow signal: look to buy. A red arrow signal: look to sell.
Buy signal: green arrow (buy at the next candlestick).
Sell signal: red arrow (sell at the next candlestick).
Use in conjunction with longer-term trend following indicators such as moving averages (50 SMA, 100 SMA, 200SMA, 50 EMA, 100EMA, 200 EMA).
Trade in the overall direction of the longer-term trend.
Currency pairs: any
Preferred Time frames: any
Configurable Indicator Options
USD/JPY Hourly Chart Example