About the Forex Trendy Dashboard Indicator
The Forex Trendy Dashboard is a versatile technical tool designed to streamline market analysis for active traders.
This indicator scans various currency pairs simultaneously and presents critical data in a compact, readable interface directly on your MT4 chart.
It eliminates the need to cycle through dozens of individual windows to find a trending market.
Aggregating price action data helps you identify which pairs are showing strength and which are showing weakness at any given moment.
Operating as a multi-pair scanner, this tool focuses on trend direction while providing essential trade data like spreads and swap rates.
It is particularly useful for traders who manage diversified portfolios and need a bird’s-eye view of the market.
It serves as an informative hub that assists in making quicker, more informed entry decisions based on prevailing momentum.
Free Download
Download the “Trendy Dashboard.mq4” indicator for MT4
Key Features
- Real-time trend identification across multiple currency pairs within a single chart window.
- Clear signal output using color-coded direction markers for instant recognition.
- Display of current spread values to help manage entry costs and slippage.
- Integration of buy and sell swap information for carry trade considerations.
- Customizable pair list allowing you to add or remove instruments via the input settings.
- Compact dashboard layout that preserves space for other technical analysis tools.
Indicator Chart
The image illustrates the Forex Trendy Dashboard indicator active on a live trading environment.
It highlights the current market sentiment for several major and minor pairs through green and red directional signals.
The dashboard provides a quick snapshot of trend alignment, showing exactly where buying or selling pressure is most prevalent across the board.
Guide to Trade with Forex Trendy Dashboard
To maximize the effectiveness of this tool, it is best used in conjunction with price action levels or a secondary oscillator to confirm momentum.
The dashboard provides the directional bias, while you time the entry based on the rules below.
Buy Rules
- Locate a currency pair on the dashboard displaying a green UP signal.
- Confirm that the price is not trading directly into a major resistance zone.
- Open a long position once the trend signal aligns with positive price action.
Sell Rules
- Identify a currency pair on the dashboard showing a red DOWN signal.
- Ensure there is sufficient room for the price to move lower before reaching support.
- Enter a short position when the bearish signal is active.
Stop Loss
- Place your stop loss 3 to 5 pips beyond the most recent swing high or low.
- Adjust the distance based on the specific volatility of the currency pair you are trading.
Take Profit
- Target a specific reward-to-risk ratio of at least 2:1.
- Alternatively, exit the trade when the dashboard signal for that specific pair changes direction.
Forex Trendy Dashboard + EW Trend Scalping Strategy for MT4
The combination of the Forex Trendy Dashboard Indicator for MT4 and the EW Trend Indicator for Scalping MT4 creates a powerful trading setup designed for short-term traders.
This strategy focuses on aligning multi-timeframe trend direction with intraday momentum shifts to catch precise scalping opportunities.
It works best on the M5, M15, and M30 time frames and can also be applied for short-term swing entries on H1 charts.
Traders who prefer fast-paced setups with strong confirmation before entering a trade will find this system both efficient and easy to follow.
How the Strategy Works
The Forex Trendy Dashboard identifies the overall market direction by analyzing multiple time frames at once.
When the dashboard displays a green “UP” across your chosen time frames, it indicates that the trend is bullish.
When it displays red “DOWN,” the market is bearish.
To refine entries, the EW Trend Indicator confirms momentum shifts through its histogram, which moves above or below the zero line to indicate buying or selling strength.
When both indicators agree, the trade setup has a high probability of success.
Buy Entry Rules
- Wait until the Forex Trendy Dashboard shows a green “UP” signal across at least three key time frames (M5, M15, M30).
- Check that the EW Trend histogram is above the zero line, confirming bullish momentum.
- Enter a buy trade at the close of the current candle once both signals align.
- Place a stop loss 10–15 pips below the most recent swing low.
- Set a take profit target between 15–25 pips for scalping, or use a trailing stop to ride extended moves.
Sell Entry Rules
- Wait until the Forex Trendy Dashboard shows a red “DOWN” signal across your selected time frames.
- Confirm that the EW Trend histogram is below the zero line.
- Open a sell position at the close of the candle once both confirmations are present.
- Set a stop loss 10–15 pips above the latest swing high.
- Take profit between 15–25 pips, or manage the trade with a trailing stop for longer trends.
Advantages
- Combines trend direction with momentum confirmation for stronger entries.
- Simple visual interface — easy to read signals from both indicators.
- Adaptable for short-term and intraday trading.
- Low lag and quick reaction to price shifts.
- Useful on major forex pairs and gold due to stable intraday volatility.
Drawbacks
- Less effective during major news events with unpredictable spikes.
- Best used with a solid money management plan due to fast market changes.
Case Study 1 – EUR/USD M15
On EUR/USD, the Forex Trendy Dashboard displayed a strong “UP” signal on the M5, M15, and M30 charts during the London session.
At the same time, the EW Trend histogram crossed above the zero line, confirming buying pressure.
A buy trade was opened at 1.0745 with a stop loss at 1.0730 and a take profit at 1.0770.
Within 45 minutes, the trade reached the target, resulting in a +25 pip gain.
A second opportunity appeared later in the session, adding another +18 pips, totaling +43 pips for the day.
Case Study 2 – GBP/JPY M30
During the early New York session, GBP/JPY displayed a “DOWN” trend on all time frames in the Forex Trendy Dashboard.
Simultaneously, the EW Trend histogram remained below zero.
A short entry was placed at 191.85 with a stop loss at 192.10 and a take profit at 191.40.
The move completed successfully within an hour, earning +45 pips.
Later that day, another setup on the same pair produced +30 pips, bringing a total of +75 pips using this approach.
Strategy Tips
- Always check that both indicators confirm the same direction before entering any trade.
- Use lower time frames for scalping and higher time frames for short-term trend trading.
- Filter out signals during high-impact news events for more reliable results.
- Combine this method with support and resistance zones to improve trade accuracy.
- Regularly backtest different pairs to find the ones with the smoothest trends for this setup.
Download Now
Download the “Trendy Dashboard.mq4” indicator for Metatrader 4
FAQ
How do I update the list of currencies displayed on the dashboard?
You can modify the monitored assets by accessing the indicator inputs.
Simply type the symbol names exactly as they appear in your Market Watch window, separated by commas.
After clicking OK, the dashboard will refresh and begin scanning the new list of pairs automatically.
What does the swap information represent in the dashboard?
The dashboard displays the cost or credit for holding a position overnight.
The buy swap and sell swap values are essential for swing traders to understand the net interest impact on their trades, helping to avoid high-cost pairs during periods of low volatility.
Can I use this indicator for scalping on lower timeframes?
Yes, the indicator updates in real-time and can be applied to any timeframe.
Scalpers often use the dashboard to find pairs with the lowest spreads and strongest immediate momentum to ensure they are trading the most active markets with the lowest overhead costs.
Summary
The Forex Trendy Dashboard indicator is a functional asset for any trader looking to improve their efficiency.
By centralizing trend data, spreads, and swaps, it reduces the mental fatigue associated with manual chart flipping.
Its ability to be customized for specific pair lists makes it adaptable to various trading styles, from day trading to long-term trend following.
While the indicator provides a strong directional bias, it is most effective when treated as a filtering tool rather than a standalone system.
Integrating it with support and resistance analysis will likely yield the best results.
Overall, it is a robust utility for maintaining an organized and informed approach to the forex market.
