The Forex Trend Manager indicator for Metatrader 4 is a free, powerful buy/sell trading system that can be used by any currency trader.
The indicator appears in the main MT4 chart window and draws blue and red clouds on the screen.
Forex Trend Manager can be used by both beginners and seasoned traders and is non-repaint.
Buy & Sell Trade Example
- Open a long trade when the blue cloud appears on the chart.
- Open a short trade when the red cloud appears on the chart.
The indicator can be used for both trade entry and exit or as an additional technical signals indicator that works together with your own favorite trading strategy or system.
Free Download
Download the “Trend manager.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the Forex Trend Manager mt4 indicator in action on the trading chart.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown above.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method when trading with this powerful indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Signals
Does the indicator repaint? No.
Trend Manager Cloud + Waddah Attar Histogram Forex Scalping Strategy
This scalping strategy pairs the Trend Manager Forex Indicator MT4 (blue cloud = buy trend, red cloud = sell trend) with the Waddah Attar Forex Scalping Indicator MT4 (green histogram = buy momentum, red histogram = sell momentum).
Enter trades when both trend direction and momentum signal align.
Best used on 5‑minute or 15‑minute charts for major forex pairs.
Buy Entry Rules
- Trend Manager cloud is blue, and Waddah Attar’s histogram is green.
- Open a buy trade when both signals align.
- Stop loss: a few pips below the recent swing low.
- Take profit: set at 1.5× the stop loss or use a trailing stop as the price moves in your favour.
Sell Entry Rules
- Trend Manager cloud is red, and Waddah Attar’s histogram is red.
- Open a sell trade when both signals align.
- Stop loss: a few pips above the recent swing high.
- Take profit: set at 1.5× the stop loss or use a trailing stop as the price moves in your favour.
Advantages
- Combines trend direction and momentum for higher-probability scalps.
- Short-term focus allows multiple opportunities per session.
- Flexible take profit options adapt to price movement.
Drawbacks
- Frequent trades with tight stops can accumulate small losses.
- Needs a low-spread broker for best performance.
Case Studies
Case Study 1: EUR/GBP 5‑Minute Chart
The Trend Manager cloud turned blue, and the Waddah Attar histogram turned green.
Buy trade opened at 0.8580 with stop loss at 0.8570 and take profit at 0.8595 (1.5× risk).
Trade hit the target quickly, gaining 15 pips.
Case Study 2: USD/CAD 15‑Minute Chart
The Trend Manager cloud turned red, and the Waddah Attar histogram turned red.
Sell trade opened at 1.3500 with stop loss at 1.3512 and take profit at 1.3478 (1.5× risk).
Price moved in favour and trade captured ~30 pips using a trailing stop.
Strategy Tips
- Use currency pairs with tight spreads.
- Trade on 5‑minute or 15‑minute charts for fast setups.
- Enter only when the cloud and histogram align.
- Monitor histogram bar height: stronger bars indicate stronger momentum.
- Trail stop once price moves in your favour to lock profits.
- Keep a trading journal to refine performance.
