Dadas True Trend Indicator

Dadas’ true trend indicator for MT4 calculates a trend based on higher highs or lower lows. This indicator classifies the trends and labels them as uptrends, downtrends, or neutrals. This indicator is now part of the “neutral trend” list and warns traders to stay on the sidelines. This feature allows forex traders to avoid placing trades in a flat or neutral trend and save valuable time and money.

The indicator can identify bullish and bearish trends, provide entry points and exit points, and even provide the best indicators. This indicator is more than just a trend indicator. The indicator is effective in all time frames, but it performs better in shorter time frames.

This indicator is suitable for both new and experienced forex traders. Extensions that act as stop-loss points are a benefit to new traders. Advanced traders can use the indicator to create complex trading strategies. The indicator is also available for download and installation free of charge.

Dadas True Trend Indicator Trading Signals

The indicator displays the uptrend as a blue line, while the downtrend is shown in red. The neutral color is dark khaki. The indicator also plots bullish extensions in blue and bearish extensions in red.

If the indicator shows a blue line below the price, it is considered a red line. Forex traders should buy with a stop loss at or below the previous swing low or the previous blue extension. This indicator doesn’t provide a profit target, so traders should exit with a high risk-reward ratio and an opposing trading signal.

The indicator plots a red line in a bearish trend. Forex traders should sell and enter the market with a stop loss at or above the swing high. Forex traders should be cautious if an indicator shows a neutral trend line. As a precaution, it is better to close any open positions as soon as you see a neutral trendline.

This indicator has a unique feature: it doesn’t use complicated strategies or calculations to identify the trend. The trend is only identified by the price movement as a function of the formations’ higher and lower highs and lows.

Conclusion

The Dadas True Trends V3.1 indicator for MetaTrader4 doesn’t use complex formulas. It relies solely on price action, using the higher highs or lower lows to identify the trend. It provides a clear reflection of the trend and allows forex traders to identify bullish or bearish trends to purchase or sell.