Definition
The VH indicator for MT4 generates the best trend-based forex trading signals, BUY at BULLISH trend and SELL at BEARISH trend, with colour signal.
To generate the best forex trading signals, the VH indicator for MT4 combines several indicators. It is a trend-following indicator that displays the BULLISH and BEARISH trends in the chart window as continuous dots. As a result, it presents the trend in a graphic manner. Therefore, forex traders may place BUY or SELL trades in accordance with the trading signals and readily interpret them.
| Indicator Title | VH Indicator |
| Indicator Size | 4.5 KB |
| Trading Platform | Metatrader 4 |
| Indicator Type | Trend |
What is the Purpose and working of VH indicator for MT4?
The VH indicator is best for new and advanced forex traders. New traders can identify the BULLISH and BEARISH trends at a glance and use the trading signals accordingly. While advanced forex traders can use this strategy as a standalone indicator or with a combination of indicators.
The indicator is good at identifying the market trends. So, forex technical traders can use this indicator to primarily identify the trend and then add an oscillator to confirm the trading signals. Traders will find it easy to analyze the market once the trend direction is identified. Additionally, the indicator is free to download and easy to install.
The indicator performs well on daily, weekly, and monthly price charts as well as on intraday time frames. Any multi-timeframe (mtf) technical trading method works well with the indicator because it detects trends across all timeframes. Higher time frame trends typically last longer and are more reliable than lower time frame trends. Therefore, forex traders can locate the main trend on the chart with a higher time period. On a chart with a lesser time period, traders can place trades in the same direction by using the major trend’s direction. In essence, the trader can plan an early departure as well as choose the optimal entry price.
Trading Strategy
Buying Trade
Forex traders can place a BUY order once the indicator’s colour switches to BLUE to signal the start of a BULLISH trend. The previous swing low serves as the optimum stop loss for this trade, while the opposing trade signal serves as the take profit goal.
Selling Trade
On the other hand, if the signal becomes RED, forex traders might open a SELL position. Since the indicator’s colour signifies the end of the current trend, traders can follow it and hold their position until the indicator changes. Additionally, above the previous swing high is where the stop loss for this trade should be placed.
Conclusions
The VH indicator for MT4 is a must-have for forex trend traders. Finding the BULLISH or BEARISH trend direction is the main objective of trend traders. This indicator does its best to help the trader find the trend to buy into or sell into and then ride it out. Therefore, it is appropriate for any trend-based technical trading strategy for forex. Additionally, forex traders can easily and gratis download the indicator.
Download indicator