Trend Envelopes Alert MT4 indicator is based on moving averages and can be used for scalping as well as swing strategies. In addition to bullish and bearish trend lines, the indicator shows an alert to indicate and inform the trader about the best opportunity to enter a trade.
The type of Trend Envelopes Alert MT4 indicator is a trend following. Traders can use Trend Envelopes Alert indicator on any G10 currency pair and during any trading session. However, we have noticed that the tool works best during the European trading session. Similarly, you can use this indicator to trade on any time-frame. However, H1 or 15min time frames performed the best during our trial period.
Furthermore, this trend indicator does not re-paint, meaning it will not lag the live market movement and afterward change an outcome by re-painting its historical data, which looks perfect when backtesting any re-painting indicator.
How to trade with Trend Envelopes Alert MT4 indicator strategy
The general concept of the indicator is to show the short term trend. The price is expected to rise if the signal line is blue and vice-versa if the signal line is red. At the beginning of a new short term trend and alert is displayed to inform a trader about the best entry point.
To achieve the highest profitability, it would be advisable to use the Trend Envelopes Alert MT4 indicator in combination with another longer-term trend indicator such as Forex Freedom Bar indicator or a simple SMA.
How to Download and Install Trend Envelopes Alert MT4 indicator
How to install your indicator on MT4 platform:
1. Click on Download button below;
2. Save the file to your computer;
3. Move the .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 “Trend Envelopes Alert”;
8. Adjust settings or press OK to add the indicator to your selected chart;
Note: TrendLaboratory is the party that developed the Trend Envelopes Alert MT4 indicator. AtoZ Markets follower from Russia, Alexander have shared this tool with us. AtoZ Markets does not carry any copyrights over this trading tool.
Do you have a reliable indicator or EA? Would you like to share it with our users?