You can now download the Supertrend MT4 Indicator for free on AtoZ Markets indicators gallery. Trend trading strategy is one of the most effective ways to make money in the Forex market. Being a new trader in the Forex market, you need to understand the fact, the market stays in trend most of the time. Though a trend trading strategy requires a precise understanding of this market, with the help of Supertrend MT4 Indicator, you can easily ride the market trend and make a decent profit.
Currency Pair: Any
How to trade with Supertrend MT4 Indicator
SuperTrend indicator for MetaTrader4 is quite an amazing technical tool, created on the back of the ATR and CCI. Traders will find this tool quite helpful in terms of its ability to spot trends. SuperTrend can be deployed as a basis of a trading system that is centered on the following trend. Understanding that the SuperTrend is built upon two indicators – CCI and ATR.
The CCI indicator has its standard parameter set at “50” which points the direction of trend movement, while the ATR indicator is deployed as a tool to define the indicator levels.
If the CCI pushes above “0,” the indicator either surges or moves flat (subject on the ATR). A negative CCI will translate into a declining SuperTrend (subject on the ATR as well).
Engaging the market following a correction while paying attention to the color of the SuperTrend indicator is a sure nice way to use this indicator. If the SuperTrend indicator line changes its color from red to green (it depicts price changing from a sell to buy), open a buy position after the first descending correction.
A sell is triggered if the color of the SuperTrend indicator line changes from red to green (place a sell after the first ascending correction.
How to download and install an indicator?
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “Supertrend MT4 Indicator” template to apply it on the chart.
Note: Tim Morris is the creator of this indicator. AtoZ Markets does not carry any copyrights over this trading tool.