The Currency Slope Strength forex indicator for Metatrader 4 calculates and displays the slope for the following currencies: USD, EUR, GBP, JPY, AUD, NZD, CAD and CHF.
How to use this powerful information?
Look for currencies with a steep slope (above 0.80 and below -0.80). They represent strong trending currencies.
Next is to trade currency pairs, which are made up of a strong trending currency versus a weak currency.
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Download the “currency-slope-strength.mq4” MT4 indicator
Indicator Chart (GBP/USD H1)
The GBP/USD 1-Hour chart below displays the Currency Slope Strength Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Currency Slope Strength MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Buy a currency pair that is made up of a strong UP trending currency (steep slope) versus a weak DOWN trending currency. Confirm the buy trade with additional analysis tools.
Sell Signal: Sell a currency pair that is made up of a strong DOWN trending currency (steep slope) versus a weak UP trending currency. Confirm the sell trade with additional analysis tools.
Trade Exit: Use your own method of trade exit.
Currency Slope Strength + Hull ATR Crossover MT4 Trend Strategy
This MT4 strategy combines the Currency Slope Strength Metatrader 4 Forex Indicator with the Hull ATR Crossover Signal Metatrader 4 Forex Indicator.
The Currency Slope Strength indicator calculates and displays the slope for USD, EUR, GBP, JPY, AUD, NZD, CAD, and CHF.
Steep slopes, above 0.80 or below -0.80, represent strong trending currencies.
The Hull ATR Crossover provides precise entry signals.
A buy signal occurs when the green line crosses back above the purple line from below, and a sell signal occurs when the green line crosses back below the purple line from above.
Combining these two indicators helps traders identify strong trending currencies and enter trades at optimal points within the trend.
This strategy is suitable for 15-minute (M15) and 30-minute (M30) charts, making it ideal for day trading.
It works well on major and minor currency pairs and can also be applied to cross pairs that show strong slope trends.
Traders can capture trend continuation moves while using the Hull ATR Crossover to time entries accurately.
This method is best used during active market sessions such as London and New York when trends are more pronounced.
Buy Entry Rules
- Check the Currency Slope Strength indicator and identify currencies with a slope above 0.80, indicating a strong bullish trend.
- Form a pair using the strongest currency as the base and a weaker trending currency as the quote if possible.
- Wait for the Hull ATR Crossover indicator to give a buy signal: the green line crosses back above the purple line from below.
- Enter a buy trade when both conditions are met.
- Set stop loss a few pips below the recent swing low or below a significant support level.
- Set take profit dynamically using 1.5 times the Average True Range (ATR) of the current period instead of a fixed pip target.
Sell Entry Rules
- Check the Currency Slope Strength indicator for currencies with a slope below -0.80, indicating a strong bearish trend.
- Form a pair using the weakest currency as the base and a stronger trending currency as the quote if possible.
- Wait for the Hull ATR Crossover to give a sell signal: the green line crosses back below the purple line from above.
- Enter a sell trade when both conditions are satisfied.
- Place a stop loss a few pips above the recent swing high or above a significant resistance level.
- Set take profit dynamically using 1.5 times the ATR to allow larger moves during strong trends.
Advantages
- Combines trend strength and precise entry signals for higher probability trades.
- Dynamic take profit using ATR adjusts to market volatility, capturing larger moves during strong trends.
- Works on multiple currency pairs and time frames.
- Clear rules reduce subjectivity and make the strategy easy to follow.
- Helps avoid trades in weak or sideways markets by filtering for steep slopes only.
Drawbacks
- Requires monitoring multiple currencies and their slopes.
- Dynamic take profit may result in trades staying open longer in low volatility periods.
- Not suitable for very short-term scalping due to reliance on trend development.
- ATR-based take profit requires an understanding of market volatility and proper ATR setting.
Case Study 1
On the AUD/JPY 15-minute chart, the Currency Slope Strength indicator shows AUD slope above 0.85, signaling a strong bullish trend, while JPY slope is neutral.
The Hull ATR Crossover gives a buy signal when the green line crosses above the purple line at 91.25.
Stop loss is placed at 90.95, and take profit is set at 1.5 times the ATR, which corresponds to 91.75.
The trade moves up with the trend and hits the ATR target for a gain of 50 pips.
Case Study 2
On the GBP/CHF 30-minute chart, the Currency Slope Strength shows CHF slope below -0.90, signaling a strong bearish trend, and GBP slope is weakly positive.
The Hull ATR Crossover triggers a sell signal at 1.2350.
Stop loss is at 1.2380, and take profit is 1.5 times the ATR at 1.2290.
The market drops steadily and reaches the take profit, yielding 60 pips.
Strategy Tips
- Only trade pairs where at least one currency has a slope above 0.80 or below -0.80 to focus on strong trends.
- Use the ATR take profit to adapt to volatility instead of fixed pip targets.
- Combine with session analysis and avoid trading during low liquidity periods.
- Start with smaller lot sizes until familiar with slope behavior and Hull ATR signals.
- Consider using additional support and resistance levels for extra confirmation when setting stop losses and trailing stops.
Download Now
Download the “currency-slope-strength.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (time frame, show cross alerts, currencies) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: strength
