The dTrends Star Signals forex indicator for Metatrader 4 provides easy-to-read trend-following buy/sell signals in the form of stars.
- A blue star represents a buy signal
- A red star represents a sell signal
The indicator follows the short-term trend, so for good performance, I recommend combining the dTrends indicator with a longer-term moving average.
For instance, a 200 SMA or 100 EMA would fit.
When the overall MA trend is up, trade the blue stars and ignore the red stars.
When the overall MA trend is down, trade the red stars and ignore the blue stars.
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Indicator Chart (EUR/AUD H4)
The EUR/AUD H4 chart below displays the dTrends Star Signals Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the dTrends Star Signals MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Open a buy trade when a blue star signal appears on the chart.
Place a stop loss below short-term support or use your own preferred SL method.
Sell Signal: Open a sell trade when a red star signal appears on the chart.
Place a stop loss above short-term resistance or use your own preferred SL method.
MT4 DTrends Star Signal and DSP Histogram Forex Scalping Strategy
This MT4 scalping strategy combines the DTrends Star Signals MT4 Indicator with the Detrended Synthetic Price Histogram MT4 Indicator.
The first tool delivers the trade entries, showing a blue star as a buy signal and a red star as a sell signal.
The DSP Histogram indicator confirms the trend direction with green bars for bullish movement and red bars for bearish pressure.
The strength of this approach comes from combining trend filtering with precise entries.
The DSP Histogram removes noise and highlights the dominant direction.
The DTrends Star Signals indicator reacts quickly and provides clear visual entries that help scalpers catch fast intraday moves.
This setup works best on M1, M5, and M15 charts during active trading sessions.
When both indicators agree, trades often move immediately in the expected direction.
Buy Entry Rules
- The DSP Histogram must show green bars to confirm a bullish trend.
- A blue star from the DTrends Star Signals indicator must appear after or while the histogram remains green.
- Enter long at the close of the blue star candle.
- Set a stop loss around 8 to 15 pips below the entry, depending on volatility.
- Target 10 to 25 pips on M5 or 15 to 30 pips on M15.
Sell Entry Rules
- The DSP Histogram must show red bars to confirm a bearish trend.
- A red star from the DTrends Star Signals indicator must appear after or while the histogram remains red.
- Enter short at the close of the red star candle.
- Set a stop loss around 8 to 15 pips above the entry.
- Target 10 to 25 pips on M5 or 15 to 30 pips on M15.
Advantages
- Clear trend confirmation from the histogram reduces false entries.
- Star signals provide fast and precise scalping entries.
- Works well during sessions with strong momentum.
- Easy to follow because both indicators display visual signals.
- Suitable for beginners who need structured rules.
Drawbacks
- Sideways markets may produce mixed histogram colors and reduce signal quality.
- Not ideal in very low volatility conditions.
Case Study 1
On EURUSD M5 during the London session, the DSP Histogram turned fully green, confirming upward pressure.
A few minutes later, the DTrends indicator printed a blue star.
A long entry was opened with a 12 pip stop loss.
The pair gained momentum and delivered a 22 pip profit before slowing down.
The histogram trend filter helped avoid entering too early during consolidation.
Case Study 2
GBPJPY M15 showed strong selling movement during the New York session.
The DSP Histogram turned red and maintained bearish momentum.
A red star signal appeared shortly after a minor pullback.
The trade was entered with a 15 pip stop loss and reached the target for a 28 pip gain.
The combination of trend direction and entry timing produced a smooth, low drawdown trade.
Strategy Tips
- Trade only when the histogram stays clearly green or red to ensure strong trend alignment.
- Skip trades when the histogram switches colors frequently, as this indicates unstable conditions.
- Focus on London and New York sessions where momentum is strongest.
- Prefer setups where the star signal appears early in the trend because these often produce the fastest moves.
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Download the “dTrends.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (select applied price, EMA period, Alerts)Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: trend
