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Wednesday, June 10, 2020

[FOREX TIP] Trend Intensity Index Indicator MT4 | Free Download

The Trend Intensity Index Indicator MT4, as the name suggests is a custom Indicator designed for Metatrader 4, that is used to determine the trend intensity of the security in question.

The Indicator sits in the sub-window of the price chart and works as an oscillator, moving within fixed levels.

On top of this, you also have a step Indicator which shows a gradual increase in the trend.

Buy and sell signals are triggered depending on the oscillator’s movement.

Trend Intensity Index Indicator: When to go long

Trend Intensity Index Indicator: When to go long

When to go long using the Trend Intensity Index Indicator?

You can either initiate a long position after you see the first long signal, with the buy arrow appearing.

Alternately, wait for the second signal which can be a bit late at times but offers a more reliable source of the trend intensity. Open a long position on the open of the next candlestick.

When to exit your long positions?

When the trends are strong, it is recommended to maintain your long position and reap maximum benefits.

However, you can also use a fixed risk-reward ratio and book profits accordingly.

Trend Intensity Index Indicator: When to Short

Trend Intensity Index Indicator: When to Short

When to go short using the Trend Intensity Index Indicator?

Take a short position upon the sell signal arrow that appears, or wait for a more reliable signal to appear.

Once this happens, wait for the next candlestick to open and then go short.

Alternately, wait for the price to break the lows before going short.

When to exit your short positions?

Exit your position with a good risk to reward ratio set up.

But in cases where the trend is really strong, it is advisable to continue to hold on to the position until you make good profits.

Where to set the stop loss using the Trend Intensity Index Indicator?

Set the stop loss at the high or the low of the price candlestick where the signal first appeared.

You can also set your stops to the nearest pivot highs or lows depending on whether this will give you a good risk-reward set up or not.

Conclusion

The Trend Intensity Index Indicator is simple in the way it works but it can show strong trends easily.

The only downside is that when prices are moving in a sideways range, this Indicator can be quite useless.

Therefore, traders should exercise caution but at the same time look for markets where trends are strong.

How to Increase Your Winning Ratio with the Trend Intensity Index Indicator MT4?

When you add the Stochastic Cross Alert Indicator and use it together with a proven trend trading system like the Elite Swing Trader or Simple Trend Trading System, you can only expect to achieve a better win ratio and better risk-reward ratio.

Recommended Time Frames

Technically speaking, you can use this MT4 indicator for all time frames.

However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly.

We recommend that you use higher time frames like the H4 or even higher for better consistency.

Click Here for Your Free Download of Trend Intensity Index Indicator.ex4 file

How to Install Custom Indicators on MT4 on Windows

How to Install Custom Indicators on MT4 on Mac OS


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Visit our Free MT4 Indicator Download page.

We hope you have enjoyed this post as much as we have created this strategy post for you.

Good luck and thank you for your readership.

The post Trend Intensity Index Indicator MT4 | Free Download appeared first on Advanced Forex Strategies.



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