HalfTrend v1.02 indicator is a Forex custom indicator to be used on MT4. You can download HalfTrend v1.02 ex4 file for free and use it in your trading strategy. Although the indicator is pretty straight forward, it is recommendable to combine HalfTrend v1.02 Indicator with 50 period SMA on hourly chart for maximized results.
HalfTrend v1.02 Indicator will help you to eliminate the noise in the market and combined with the 50 period SMA it will give you the opportunity to see the trend and only enter the market following the trend. HalfTrend v1.02 indicator will plot red and blue arrows, red standing for bearish entries and blue standing for bullish entries.
The indicator also has integrated sound alert signals and email alerts which you can change in the indicator customize dialog box according to your needs.
How to set up your strategy?
- Drag and drop HalfTrend-1.02 indicator from your custom indicators section on your chart.
- Add 50 period SMA applied to close
Criteria for bearish entries
- HalfTrend-1.02 indicator should plot red lines
- There must be a red arrow showing downwards
- HalfTrend-1.02 indicator should be below 50 period SMA 4- 50 period SMA should point downwards
Criteria for Bullish entries
- HalfTrend-1.02 indicator should plot blue lines.
- There must be a blue arrow showing upwards
- HalfTrend-1.02 indicator should be above 50 period SMA 4- 50 period SMA should point upwards HalfTrend-1.02 indicator combined with 50 period SMA
How to install this indicator on MT4
1. Click on Download button below
2. Save the (HalfTrend-1.02.zip file)
3. Extract the HalfTrend-1.02.ex4 file into the following folder: meta traderexpertsindicators
4. Restart your Metatrader platform
5. Click the “Indicators” button in Metatrader toolbar
6. Select “Custom”
7. Search and select HalfTrend-1.02 custom Indicator in “Custom” list
8. Adjust settings or press OK to add the indicator to your selected chart
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