This indicator displays the overall trend of a higher timeframe on the current (lower timeframe) chart as follows:
Thank you for reading this post, don't forget to subscribe!If MA_1 < MA_2 < MA_3 < MA_4 on the higher timeframe MA proper order has been established and a down trend is in place. On the current, lower timeframe chart and red line will appear to indicate this. The red line is based on the PCI (Price Channel Index) indicator and can be used as a support line. If in inbuilt RSI indicator is enabled, any time the RSI goes in overbought territory an alert is given as a warning that a possible reversal is more likely i.e. lower timeframe trend resumes higher timeframe overall trend. Entering on a close below the red PCI support line is recommended. See example picture below.
If MA_1 > MA_2 > MA_3 > MA_4 on the higher timeframe MA proper order has been established and a up trend is in place. On the current, lower timeframe chart and green line will appear to indicate this. The green line is based on the PCI (Price Channel Index) indicator and can be used as a resistance line. If in inbuilt RSI indicator is enabled, any time the RSI goes in oversold territory an alert is given as a warning that a possible reversal is more likely i.e. lower timeframe trend resumes higher timeframe overall trend. Entering on a close above the green PCI resistance line is recommended.
A grey line indicates that no higher timeframe trend is present.
Note: I recommend using the following timeframe combinations:
Higher Timeframe: Current Timeframe:
Daily 1hr
4hr 15min
1hr 5min
5/15min 1min
MT4 Indicators – Download Instructions
[post-title] is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
[post-title] provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install [post-title].mq4?
- Download [post-title].mq4
- Copy [post-title].mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on [post-title].mq4
- Attach to a chart
- Modify settings or press ok
- Indicator [post-title].mq4 is available on your Chart
How to remove [post-title].mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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