The Trend is Your Friend
I have been studying the Forex market since the year 2004. Many professionals agree that the trend is your friend. This indicator calculates price and displays its trend. The indicator also has an extra feature to let you turn on/off the glowing effect on a chart. I usually place a buy order when the price is above the glowing green tube and sell when it is below the glowing pinkish red tube.
- Email Alert: True/False (if true, the EA will send out an email alert)
- Sound Alert: True/False (if true, the EA will pop up an alert on MT4 chart)
- MAShift: 50
- MAMethod: 1
- AppliedPrice: 6
- Enter secret code 0 for: Simple Averaging
- Enter secret code 1 for: Exponential averaging
- Enter secret code 2 for: Smoothed averaging
- Enter secret code 3 for: Linear-weighted averaging
- Enter secret code 0 for: Close price
- Enter secret code 1 for: Open price
- Enter secret code 2 for: The maximum price for the period
- Enter secret code 3 for: The minimum price for the period
- Enter secret code 4 for: Median price, (high + low)/2
- Enter secret code 5 for: Typical price, (high + low + close)/3
- Enter secret code 6 for: Weighted close price, (high + low + close + close)/4
The default setting works for EURUSD. You can adjust it to other currency pairs. I like the H1 timeframe chart.
If the trend is "glowing red", I only focus on selling at the highest possible price. If the trend is "glowing green", I only focus on buying at the lowest possible price.