The Market Trend Indicator is an MT4 indicator that shows the direction of the trend. It plots three colors of bars in the side window to show the market trend. These colors are red, gray and cyan. These colors allow traders to take buy or sell positions.
If the indicator shows a red bar, it indicates a downtrend. If the indicator shows red bars, it indicates a downtrend. Conversely, the indicator can show lime bars, indicating an uptrend.
Market Trend Indicator buy/sell signals
The red and green bars are indicators that traders can use to determine buy or sell signals. A red bar indicates that a trader can go short or exit a long position. Conversely, if the indicator shows a lime bar, it indicates an uptrend. This indicator allows traders to take long or short positions.
Traders should wait for price action to occur before using the indicator to enter a long or short position. Market neutrality is indicated by the gray bars. This is a warning to traders not to take a position. Sometimes, despite a strong trend, the indicator does not plot red or lime bars. Traders can use other indicators besides the market trend indicator to solve this problem.
The Market Trend Indicator plots different colored bars to show the direction of the trend. The indicator can be downloaded for free from this section.