The Detrended Synthetic Price Bars MT4 indicator scans for bullish and bearish price bars in the main Metatrader 4 window.
The green bars you will see mean the price is trending up. The red bars suggest the price is trending down.
The blank space between the green and red bars means a range-bound trading zone.
This indicator does well for scalping, day trading, swing trading and position trading.
In order for this indicator to display the chart correctly, it is important you switch the chart to bars and not candlesticks (see the chart below).
Put all bar colors to black for best view.
Free Download
Download the “Detrended_Synthetic_Price_dbarsf.mq4” MT4 indicator
Indicator Chart (EUR/USD M1)
The EUR/USD M1 chart below shows the Detrended Synthetic Price Bars forex indicator in action.
Basic Trading Signals
Buy Signal: Go long at the first green bar.
Sell Signal: Go short at the first red bar.
Exit buy trade: Close buy trades at the first red bar (bearish reversal signal)
Exit sell trade: Close sell trades at the first green bar (bullish reversal signal)
Tip: You can always use your own preferred method of trade exit.
Detrended Synthetic Price Bars and Triple Exponential Moving Average MT4 Strategy
This MT4 strategy combines momentum signals with trend direction using the Detrended Synthetic Price Bars MT4 Forex Signals Indicator and the Triple Exponential Moving Average MT4 Forex Indicator.
The Detrended Synthetic Price Bars provide green bars for buy signals and red bars for sell signals.
The Triple Exponential Moving Average shows trend direction with a green line for bullish trends and a red line for bearish trends.
By combining these indicators, traders can enter trades that align with both momentum and trend, making it suitable for M5 and M15 intraday trading.
Buy Entry Rules
- Ensure the Triple Exponential Moving Average line is green, confirming a bullish trend.
- Wait for a green bar from the Detrended Synthetic Price Bars indicator.
- Enter a buy trade at the close of the candle where the green bar appears.
- Place a stop loss below the recent swing low or the moving average line.
- Take profit when a red bar appears or when the trend shows signs of weakening.
Sell Entry Rules
- Ensure the Triple Exponential Moving Average line is red, confirming a bearish trend.
- Wait for a red bar from the Detrended Synthetic Price Bars indicator.
- Enter a sell trade at the close of the candle where the red bar appears.
- Place a stop loss above the recent swing high or the moving average line.
- Take profit when a green bar appears or the trend shows signs of reversing.
Advantages
- Combines trend and momentum signals for higher probability trades.
- Detrended Price Bars give clear entry timing.
- Triple EMA provides a continuous trend direction reference.
- Works on multiple timeframes for intraday and swing trading.
- Helps avoid trades against the main Forex trend.
Drawbacks
- Requires attention to candle closes to confirm bar signals.
- Signal frequency can be limited if trend and momentum conditions are strict.
- Active monitoring is needed on fast timeframes like M5.
Example Case Study 1
On EURCAD M5, the Triple EMA line was green, indicating a bullish trend.
A green bar appeared on the Detrended Synthetic Price Bars, signaling a buy.
The trade was entered at candle close with a stop loss below the moving average.
Price moved upward steadily and the trade was closed when a red bar appeared, resulting in a 21 pip gain.
Example Case Study 2
On AUDJPY M15, the Triple EMA line was red, confirming a bearish trend.
A red bar appeared from the Detrended Synthetic Price Bars indicator.
A sell trade was entered at candle close with a stop loss above the moving average.
Price moved slowly lower, and the trade was closed when a green bar appeared, making a 41 pip profit.
Strategy Tips
- Trade only in the direction of the Triple EMA trend line to avoid countertrend setups.
- Use M5 for scalping and M15 for more controlled intraday trades.
- Consider partial profit-taking for conservative management, but rely on bar color change as the main exit.
- Adjust stop loss based on recent swing highs or lows to manage risk effectively.
- Keep consistent position sizing due to rapid price movements on short timeframes.
- Be patient and enter trades only when both momentum and trend conditions are satisfied.
Download Now
Download the “Detrended_Synthetic_Price_dbarsf.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (DSP period, DSP price, Signal period, Change color on levels cross) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Signals indicator
