Trend Direction Forex Indicator Download

The average true range (ATR) numbers on the chart are the basis for the forex indicator, which displays the trend direction of the current market movement.

It’s better to trade in favor of a trend, according to the adage that the market trend is your friend. There are numerous methods available now for identifying market trends. Moving averages (MA) with slow and short periods are frequently used to determine the trend’s direction. The forex trend direction indicator, however, is easier to use and more accurate.

Working of Forex Trend Direction Indicator:

When the forex indicator is used, trend lines and arrows in the colors red and blue are drawn.

The market’s current FX trend is indicated by the arrows. The blue color arrow points upward, indicating the beginning of the bullish trend, while the red arrow points downward, indicating the beginning of the negative trend.

This indicator has an advantage over others in that it filters out misleading trends with an ATR smoothing value, improving accuracy.

Settings of the indicator:

You may change the ATR period and turn on or off smoothing in the indicator settings. The up and down arrows’ colors can also be changed.

Trend Direction indicator Buy Trading Strategy:

• The indicator must first draw a blue arrow on the chart before you can proceed.
• Now search for evidence that the price has altered its course.
• Take the long position after verification.
• Your stop loss should be placed at the swing low near the blue arrow.
• When the indicator plots a red arrow, it is the take profit level for your trade.

Trend Direction indicator Sell Trading Strategy:

• The indicator must first draw a red arrow on the chart before you can proceed.
• Now search for evidence that the price has altered its course.
• Take the short position after confirmation.
• Your stop loss should be placed at the swing high near the red arrow.
• When the indicator plots a blue arrow, that is the take profit level for your trade.

Conclusion:

Given that it is always preferable to trade in the direction of the trend, a trend direction indicator is a useful tool. Additionally, you can include this indicator into your other training plans.