About the Indicator
The Super Trend Forex Oscillator Indicator for MT4 is a powerful tool designed to assist traders in identifying market trends.
This indicator appears as a colored histogram in a separate chart window, providing clear visual signals to guide trading decisions.
It is suitable for various trading styles, including scalping, day trading, and swing trading, and can be applied to any currency pair and timeframe.
Here’s a buy & sell example:
- Open a buy trade as soon as the first blue trend bar appears on the chart.
- Open a sell trade as soon as the first red trend bar appears on the chart.
For scalping and day trading purposes, the indicator tends to produce the best results in the London and U.S. trading sessions.
Free Download
Download the “cSuper Trend.ex4” indicator for MT4
Key Features
- Visual Trend Signals: Displays red and blue bars to indicate bearish and bullish trends, respectively.
- Multi-Timeframe Compatibility: Works effectively across all timeframes, from M1 to D1.
- Currency Pair Flexibility: Applicable to any currency pair, enhancing its versatility.
- Non-Repainting: Once a signal is generated, it remains fixed, ensuring reliable backtesting.
Indicator Chart (EUR/USD Daily)
Below is an example of the Super Trend Forex Oscillator Indicator applied to the EUR/USD daily chart.
The chart illustrates how the indicator’s colored bars change in response to market trends, providing clear signals for potential buy or sell opportunities.
How To Trade Using This Indicator
To effectively utilize the Super Trend Forex Oscillator Indicator:
- Entry Signals: Open a buy trade when the first blue bar appears, indicating a bullish trend. Open a sell trade when the first red bar appears, indicating a bearish trend.
- Stop Loss: For buy trades, place the stop loss below the recent swing low. For sell trades, place the stop loss above the recent swing high.
- Take Profit: Set take profit levels at key support or resistance zones, or use a fixed risk/reward ratio of 1:2.
- Session Timing: The indicator performs optimally during the London and U.S. trading sessions, making it ideal for scalping and day trading.
Combining this indicator with other tools, such as moving averages or trend lines, can enhance the accuracy of your trading decisions.
Download Now
Download the “cSuper Trend.ex4” indicator for Metatrader 4
Integrated Forex MT4 Strategy: Super Trend Oscillator & FX Prime Indicator
This strategy combines the Super Trend Forex Oscillator Indicator and the FX Prime Metatrader 4 Forex Indicator to provide a comprehensive approach to trend trading.
By integrating both indicators, traders can enhance their decision-making process, ensuring more accurate entries and exits in the forex market.
What is this Strategy About?
The core idea of this strategy is to use the Super Trend Forex Oscillator to identify the overall market trend and the FX Prime Indicator to pinpoint precise entry points.
By aligning the signals from both indicators, traders can filter out false signals and increase the probability of successful trades.
This strategy is suitable for various trading styles, including scalping, day trading, and swing trading, and can be applied to any currency pair and timeframe.
Buy Rules
- The Super Trend Forex Oscillator must display a blue bar, indicating a bullish trend.
- The FX Prime Indicator should show a green histogram, signaling a buy opportunity.
- Enter a buy trade at the close of the candle when both conditions are met.
- Place a stop loss below the recent swing low or the Super Trend line.
- Set a take profit target based on a risk-to-reward ratio of at least 1:2 or trail the stop loss as the price moves in your favor.
Sell Rules
- The Super Trend Forex Oscillator must display a red bar, indicating a bearish trend.
- The FX Prime Indicator should show a red histogram, signaling a sell opportunity.
- Enter a sell trade at the close of the candle when both conditions are met.
- Place a stop loss above the recent swing high or the Super Trend line.
- Set a take profit target based on a risk-to-reward ratio of at least 1:2 or trail the stop loss as the price moves in your favor.
Trader Case Studies
Below are examples of traders who applied this strategy to different currency pairs and timeframes, demonstrating its effectiveness in various market conditions.
Martin S – Europe
Martin S, a swing trader from Germany, applied this strategy over 30 days on the EUR/USD and GBP/USD pairs. By adhering to the entry and exit rules and managing risk effectively, he secured a total of +385 pips during the month.
Julien N – Africa
Julien N, a part-time trader from South Africa, utilized this strategy on the USD/ZAR and EUR/ZAR pairs over 35 days. By following the combined signals and managing his trades diligently, he achieved a net profit of +412 pips.
John V – Asia
John V, a day trader from Singapore, employed this strategy on shorter timeframes such as M15 and H1 across the USD/JPY, EUR/USD, and GBP/JPY pairs. Within a week, he generated a respectable +175 pips in gains by adhering to the strategy’s guidelines.
Disclaimer: These case studies are for educational purposes only. Trading results will vary depending on market conditions, risk management, and individual discipline.
Advantages
- Combines two reliable indicators for enhanced signal accuracy.
- Suitable for various trading styles and timeframes.
- Helps filter out false signals and improve trade timing.
- Can be applied to any currency pair.
- Encourages disciplined trading with clear entry and exit points.
Drawbacks
- May produce fewer signals, requiring patience and discipline.
- Not foolproof; market conditions can still lead to losses.
- Requires understanding and practice to use effectively.
- May not perform well in highly volatile or sideways markets.
Strategy Conclusion and Tips
This combined strategy leverages the strengths of both the Super Trend Forex Oscillator and the FX Prime Indicator to provide a robust approach to forex trading.
By aligning the signals from both indicators, traders can increase the probability of successful trades and manage risk effectively.
For optimal results, consider the following tips:
- Practice the strategy on a demo account to build confidence.
- Use proper risk management techniques, including setting stop losses and take profits.
- Avoid trading during major news events that can cause sudden market volatility.
- Regularly review and adjust your strategy based on performance and changing market conditions.
By integrating these indicators into your trading plan and following the outlined strategy, you can enhance your trading decisions and work towards achieving consistent profitability in the forex market.
Indicator Specifications
| Platform | MetaTrader 4 (MT4) |
|---|---|
| Indicator Type | Trend Oscillator |
| Timeframes | All Timeframes (M1 to D1) |
| Currency Pairs | Any |
| Signals | Buy/Sell Histogram Bars |
| Inputs | Adjustable parameters for sensitivity, color settings, and style |
FAQ
1. Is this indicator suitable for beginners?
Yes, the Super Trend Forex Oscillator Indicator is user-friendly and provides clear visual signals, making it ideal for traders new to forex trading.
2. Can I use this indicator on any currency pair?
Absolutely. The indicator is designed to work with any currency pair, offering flexibility in your trading choices.
3. Does the indicator repaint?
No, the Super Trend Forex Oscillator Indicator is non-repainting. Once a signal is generated, it remains fixed, ensuring reliable backtesting.
4. Can I combine this indicator with other trading strategies?
Yes, combining the Super Trend Forex Oscillator Indicator with other tools, such as moving averages or trend lines, can enhance the accuracy of your trading decisions.
Final Words
The Super Trend Forex Oscillator Indicator is a valuable addition to any trader’s toolkit, providing clear and reliable trend signals.
To maximize its effectiveness, consider combining it with other technical analysis tools and practice on a demo account to familiarize yourself with its signals.
