As the name suggests, the Price Action Forex Trend indicator for the Metatrader 4 platform works on price action and delivers buy & sell signal arrows on the chart.
The signals appear in the form of green and pink colored candlesticks on the activity chart.
The indicator is very reliable, non-repaint, lightweight, and will not slow down your trading platform.
Buy & Sell Trade Example
- A green signal arrow is a buy trade entry.
- A pink arrow is a sell trade entry.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Price action trend.mq4” indicator for MT4
Indicator Chart (EUR/USD H4)
The picture below shows the Price Action Forex Trend mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Price Action Forex Trend 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.
Price Action Trend + SuperTrend MTF Forex Intraday Strategy
This intraday strategy combines the Price Action Forex Trend Indicator, which plots green arrows for buy entries and pink arrows for sell entries, with the SuperTrend MTF Forex Signal Indicator,
whose green line signals a bullish trend and red line signals a bearish trend.
Together, they help you trade in the direction of the trend while using arrow signals for timing entries.
This method works best on the M15 and M30 timeframes during active trading hours.
It is suitable for intraday traders who prefer clear visual entry arrows and trend confirmation.
You will enter only when the arrow aligns with the SuperTrend direction, reducing false entries and improving overall accuracy.
Buy Entry Rules
- Wait for a green arrow from the Price Action Trend indicator (buy signal).
- Confirm that the SuperTrend MTF line is green (indicating an uptrend).
- Enter long at the close of the candle with the green arrow, assuming the SuperTrend line is already green.
- Place stop loss just below the recent swing low or a fixed pip amount (for example, 20 pips, depending on pair volatility).
- Take profit at the next resistance zone or target a multiple of your risk (for example, 1.5× to 2×).
- Optionally trail your stop once the price moves in your favor.
Sell Entry Rules
- Wait for a pink arrow from the Price Action Trend indicator (sell signal).
- Confirm that the SuperTrend MTF line is red (indicating a downtrend).
- Enter short at the close of the candle with the pink arrow if the SuperTrend line is red.
- Place a stop loss just above the recent swing high or use a fixed pip stop (for example, 20 pips).
- Take profit at the next support or aim for a risk-reward of 1.5× to 2×.
- You can trail the stop once the trade is in profit.
Advantages
- Clear visual entry arrows make it easy to spot signals.
- Trend confirmation with the SuperTrend MTF line filters out countertrend arrows.
- Works intraday without needing to hold trades overnight.
- Applicable to many major currency pairs (EUR/USD, AUD/USD, USD/JPY, etc.).
- Allows for disciplined entries and structured risk control.
Drawbacks
- During choppy or sideways markets, arrows may fire frequently but yield poor trades.
- Arrows might appear late relative to price movement, reducing reward potential.
- SuperTrend line might repaint or lag slightly, causing delayed confirmation.
- High spreads or slippage can erode profits when using small targets.
- In fast news-driven moves, signals can break down and lead to losses.
- Requires strict risk management—losing trades can accumulate quickly in scalping strategies.
Example Case Study 1
On EUR/JPY (M15), a green arrow appeared at 11:00.
At that moment, the SuperTrend MTF line was already green.
A long position was entered at 145.80, stop loss placed at 145.60 (20 pips), and a target set at 146.20 (40 pips).
The market rose steadily over the next hour and hit the take profit level, resulting in +40 pips.
Example Case Study 2
On AUD/USD (M30), at 14:45, a pink arrow (sell) showed up.
The SuperTrend MTF line had turned red just earlier.
A short entry was taken at 0.6785, stop loss at 0.6805 (20 pips), and take profit aimed at 0.6745 (40 pips).
The pair declined over the next 90 minutes and reached the target, yielding +40 pips.
Strategy Tips
- Open a buy position only when you see a green arrow and the SuperTrend line is green concurrently.
- Open a sell position only when a pink arrow appears and the SuperTrend line is red.
- Stick to high liquidity sessions (London, New York) when price moves are stronger and trends are clearer.
- Avoid taking signals close to major news events; too much volatility can break the rules.
- If a trade moves in your favor by half your target, consider shifting your stop to breakeven or trail it to lock in gains.
By combining arrow-based signals from the Price Action Trend indicator with the trend-filtering SuperTrend MTF, you gain more selective entries and fewer false trades.
The key is to wait for both signals to agree before pulling the trigger.
With experience, proper risk management, and discipline, this intraday strategy can help you lock in frequent, cleaner profits.
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Download the “Price action trend.mq4” indicator for Metatrader 4
