The Today Trend Signal forex indicator is an excellent choice if you have very little time to trade.
At the beginning of the trading day, the MT4 indicator will give you one trading signal.
Based on its market analysis, today’s trend will give you either a buy or sell signal.
- A blue arrow represents a buy signal.
- A red arrow represents a sell signal.
In brief, every morning you will need to check the chart once, and the indicator will provide you with a buy or sell signal.
No additional trading signals will pop up until the next day.
Free Download
Download the “today-trend.mq4” MT4 indicator
Indicator Chart (EUR/USD H1)
The EUR/USD 1-Hour chart below displays the Today Trend Signal Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Today Trend Signal MT4 indicator are easy to interpret and go as follows:
Buy Signal: Open a buy order when the Today Trend Signal forex indicator displays a blue arrow on the activity chart. This is a buy signal.
Place a stop-loss below the most recent swing low level. The default take profit level is set to 30, but can be changed to whatever TP target you need.
Sell Signal: Open a sell order when the Today Trend Signal forex indicator displays a red arrow on the activity chart. This is a sell signal.
Place a stop-loss above the most recent swing high level. The default take profit level is set to 30, but can be changed to whatever TP target you need.
Today Trend Signal and Alligator MT4 Forex Strategy
This strategy combines the Today Trend Signal MT4 Indicator with the Alligator MT4 Indicator to help traders capture high-probability trades with minimal time commitment.
The Today Trend Signal indicator gives a single clear trading signal at the start of the day, represented by a blue arrow for buy and a red arrow for sell.
The Alligator indicator is used to confirm the trend direction and filter trades, reducing the risk of false entries.
This strategy is ideal for traders who have limited time to monitor the markets, including day traders and swing traders.
It works best on major currency pairs such as EURUSD, GBPUSD, USDJPY, and AUDUSD, using 30-minute, 1-hour, or 4-hour charts.
Buy Entry Rules
- Today’s Trend Signal gives a blue arrow, indicating a buy signal for the day.
- Alligator indicator confirms an uptrend: the jaw, teeth, and lips are aligned in ascending order.
- Enter a buy trade after price confirms support above the Alligator’s teeth line.
- Place a stop loss below the Alligator’s jaw line or the recent swing low.
- Set take profit at the next significant resistance level or 1.5–2 times the risk.
Sell Entry Rules
- Today’s Trend Signal gives a red arrow, indicating a sell signal for the day.
- Alligator indicator confirms a downtrend: the jaw, teeth, and lips are aligned in descending order.
- Enter a sell trade after price confirms resistance below the Alligator’s teeth line.
- Place a stop loss above the Alligator’s jaw line or the recent swing high.
- Set take profit at the next significant support level or 1.5–2 times the risk.
Advantages
- Requires minimal monitoring, perfect for traders with limited time.
- Combines a daily trend signal with Alligator trend confirmation for reliable entries.
- Works well on multiple time frames, making it flexible for day or swing trading.
- Clear rules reduce the risk of emotional or impulsive trades.
Drawbacks
- Only one signal per day, limiting trading opportunities.
- Not suitable for traders seeking multiple intraday trades.
Example Case Studies
Case Study 1 – EURUSD
On the EURUSD H1 chart, the Today Trend Signal showed a blue arrow at 09:00 GMT, indicating a buy for the day.
The Alligator indicator confirmed an uptrend with the jaw, teeth, and lips aligned upwards.
A buy trade was entered at 1.1055, stop loss at 1.1025, and take profit at 1.1130.
The trade captured 75 pips over the day.
Case Study 2 – USDJPY
On the USDJPY H4 chart, the Today Trend Signal gave a red arrow at the start of the trading day, indicating a sell.
The Alligator confirmed a downtrend, with all lines pointing downward.
A sell trade was entered at 146.20, stop loss at 146.70, and take profit at 145.30.
The trade captured 90 pips over the day.
Strategy Tips
- Always confirm the Today Trend Signal with the Alligator trend alignment to filter out weak signals.
- Use this strategy on major currency pairs for more reliable trend behavior.
- Adjust stop loss based on the recent swing points to protect against false breakouts.
- Consider higher time frame trends to reinforce the direction of the daily signal.
- Be patient and only take the signal once the price confirms the Alligator trend direction.
- Limit risk to 1–2% per trade and avoid trading during major news events for better results.
Download Now
Download the “today-trend.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customisation options: Variable (profit target, show target, show reversal) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend
