The PZ Lopez Trend Metatrader 4 forex indicator is a dual colored line surrounded by a price band (dotted lines to the upside & downside).
The indicator tracks market trends with an unmatched reliability by ignoring sudden fluctuations and market noise.
The dual colored line of the PZ Lopez Trend Indicator can be deep sky blue, which implies that traders should be looking to enter long positions or tomato, which is indicative of a bearish market sentiment.
The PZ Lopez Trend Indicator does not repaint and possesses an exclusive speed detection algorithm with implemented alerts within its inputs parameter.
Free Download
Download the “pz-lopeztrend-indicator.ex4” MT4 indicator
Example Chart
The GBP/USD H1 chart below displays the PZ Lopez Trend Indicator Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the dual colored line of the PZ Lopez Trend Indicator Metatrader 4 forex indicator gets colored deep sky blue.
Sell Signal: Go short when the dual colored line of the PZ Lopez Trend Indicator Metatrader 4 forex indicator gets filled tomato.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the PZ Lopez Trend Indicator line turns tomato.
Exit sell trade: Close all sell order if while a bearish trend is running, the PZ Lopez Trend Indicator line turns deep sky blue.
Tips: The indictor activates a trend-following placement appropriate for lower timeframes that can infiltrate into long trends within higher timeframes, thereby increasing your earnings.
Download
Download the “pz-lopeztrend-indicator.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (In_Ex, Amplitude, Alerts_Ex, Alerts_Ex, AlertCaption, DisplayAlerts, EmailAlerts, PushAlerts, SoundAlerts, SoundFile), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend
Installation
Copy and paste the pz-lopeztrend-indicator.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)