The Neurotrend indicator for Metatrader 4 is a trend following buy and sell stop-and-reverse forex indicator.
The indicator draws blue and red bullets below and above the price candlesticks.
- A blue dot buy signal appears when the trend is upward
- A red dot sell signal appears when the trend is downward
Stops will be placed below and above the blue stop line (see chart below).
The indicator works well in isolation, but it’s recommended to combineit with other technical indicators and/or fundamental analysis tools.
Feel free to experiment with the indicator’s Z and S input values.
Free Download
Download the “neurotrend.mq4” MT4 indicator
Indicator Chart (EUR/USD H1)
The EUR/USD H1 chart below displays the Neurotrend Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the Neurotrend MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Open a buy trade when the Neurotrend indicator draws a blue dot on the chart.
Place a protective stop loss below the blue rising line.
Sell Signal: Open a sell trade when the Neurotrend indicator draws a red dot on the chart.
Place a protective stop loss above the blue falling line.
NeuroTrend Indicator + Ehlers Histogram Forex Scalping Strategy for MT4
This scalping method combines the NeuroTrend Indicator for MT4 with the Ehlers Histogram Oscillator for MT4.
It is built for fast entries on M1 and M5 charts, using simple color-based confirmations.
NeuroTrend provides the actual entry signal through blue buy dots or red sell dots.
The Ehlers Histogram confirms trend direction with its blue bars for bullish momentum and red bars for bearish momentum.
This setup works extremely well during high-liquidity hours such as the London session or the New York open.
It is ideal for scalpers who want quick, rule-based trades with minimal lag and no complicated chart clutter.
Why This Strategy Works
The NeuroTrend indicator reacts quickly to price shifts and gives straightforward signals using its colored dots.
The Ehlers Histogram is a smooth oscillator that filters noise and reveals the underlying micro-trend.
When both indicators agree, short-term momentum is strong enough to extract consistent scalping profits.
The simplicity of the setup makes it easy to apply, even during fast-moving conditions.
Buy Entry Rules
- Ehlers Histogram must display blue bars, confirming a bullish trend.
- Wait for NeuroTrend to plot a blue dot on the price chart.
- Enter a buy trade on the close of the signal candle.
- Set stop loss below the latest small swing or 5–8 pips below entry on M1 and 10–15 pips on M5.
- Take profit at 5–15 pips depending on volatility.
Sell Entry Rules
- Ehlers Histogram must show red bars, confirming bearish pressure.
- Wait for NeuroTrend to print a red sell dot.
- Enter a sell position on the close of the dot candle.
- Place stop loss above the nearest swing or 5–8 pips above entry on M1 and 10–15 pips on M5.
- Take profit at 5–15 pips, depending on the pair and session movement.
Advantages
- Fast, clean scalping signals with simple color-based rules.
- Strong confirmation by combining price signals with oscillator trend direction.
- Very effective on M1 and M5 charts.
- Suitable for beginners because the rules are visually simple.
- No laggy moving averages or complicated filters needed.
Drawbacks
- Requires fast execution; slow entries often lose several pips immediately.
- Not reliable on exotic or low-liquidity currency pairs.
- Asian session choppiness often produces false alternating signals.
- Each pair may require different stop-loss and take-profit settings.
Example Case Study 1
On EURUSD M1 during the London session, the Ehlers Histogram turned blue after a small bullish breakout.
A few candles later, NeuroTrend printed a blue dot, creating the buy signal.
The entry was taken immediately at the candle close with a stop loss 6 pips below the recent swing.
Momentum picked up quickly.
Price pushed upward in a clean wave, reaching about 9 pips in profit within minutes.
Once the histogram began to shrink and lose intensity, the trade was closed, securing most of the move before a minor pullback occurred.
Example Case Study 2
On GBPUSD M5 during the New York open, the Ehlers Histogram switched to red, showing strong bearish momentum.
Shortly after, NeuroTrend plotted a red dot.
A sell trade was executed on the candle close with a stop loss placed 12 pips above.
The pair dropped sharply as volatility increased, delivering a smooth 14-pip move.
As the histogram began transitioning toward lighter shades, hinting at decreasing momentum, the trade was closed, capturing nearly the entire downward push.
Strategy Tips
- Focus on major pairs with tight spreads for consistent scalping.
- Best session for this system: London, London–NY overlap and early NY.
- Avoid trading when the histogram switches colors repeatedly.
- Use slightly larger targets on M5 because signals occur less frequently.
- Stop trading if the spread widens unexpectedly due to news or low liquidity.
Download Now
Download the “neurotrend.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customisation options: Variable (Z, Z1, S, S1), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: signals
