The Silver Trend MT4 forex indicator is a trend following trading indicator that displays the current trend directly on the activity Metatrader 4 chart.
The indicator draws two types of candlesticks:
Blue ones and red ones. Blue ones for bullish price action and red ones for bearish price action.
Trading the Silver Trend indicator is pretty simple, even for absolute beginners.
Silver Trend can be used for scalping (M1, M5), day trading (M5, M15, M30) and swing trading (H1, H4, D1) currencies.
Free Download
Download the “silver-trend.mq4” MT4 indicator
Indicator Chart (EUR/USD H1)
The EUR/USD H1 chart below displays the Silver Trend forex indicator in action.
Basic Trading Signals
Signals from the Silver Trend forex MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy position when the indicator draws a blue colored candlestick on the chart.
Sell Signal: Open sell position when the indicator draws a red colored candlestick on the chart.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
Tip: In order to trade a buy on dips and sell on rallies forex strategy with the Silver Trend indicator, add a longer-term trend following indicator to the chart and only take positions in the direction of the longer trend.
Avoid counter trend trades.
Silver Trend and Zero Lag Moving Average Forex Strategy for MT4
This MT4 forex strategy combines the candlestick-based signals of the Silver Trend Metatrader 4 Forex Indicator with trend confirmation from the Zero Lag Moving Average MT4 Indicator.
The Silver Trend indicator paints blue candlesticks for bullish setups and red candlesticks for bearish setups.
The Zero Lag Moving Average confirms the trend direction: price above the MA indicates bullish conditions, while price below the MA signals bearish conditions.
Combining both ensures trades are taken in alignment with the dominant trend, increasing the probability of successful entries.
This strategy is suitable for day trading on M5, M15, and H1 charts.
By focusing on the alignment of candlestick signals with the MA trend, traders can identify high-probability intraday opportunities.
Buy Entry Rules
- Price must be above the Zero Lag Moving Average, confirming a bullish trend.
- The Silver Trend indicator must paint a blue candlestick.
- Enter a buy trade at the close of the blue candlestick.
- Place the stop loss below the recent swing low or slightly below the Zero Lag MA.
- Set take profit near recent resistance levels or use a fixed target of 15–25 pips depending on the timeframe.
- Close the trade early if a red candlestick forms or price closes below the MA.
Sell Entry Rules
- Price must be below the Zero Lag Moving Average, confirming a bearish trend.
- The Silver Trend indicator must paint a red candlestick.
- Enter a sell trade at the close of the red candlestick.
- Place the stop loss above the recent swing high or slightly above the Zero Lag MA.
- Set take profit near recent support levels or use a fixed target of 15–25 pips depending on the timeframe.
- Close the trade early if a blue candlestick forms or price closes above the MA.
Advantages
- Combines candlestick signals with trend confirmation for higher probability trades.
- Visual and intuitive, allowing quick decision-making for intraday trades.
- Works across multiple timeframes and currency pairs, offering frequent trading opportunities.
- Dynamic trend confirmation reduces the risk of entering against the market direction.
- Simple rules make it accessible for beginner traders while providing value for experienced scalpers.
Drawbacks
- Performance can decline in ranging or low-volatility markets, resulting in more false signals.
- Requires constant chart monitoring on lower timeframes to act quickly on signals.
- Smaller profit targets are more vulnerable to spread and slippage, especially on volatile pairs.
- Effectiveness may vary across exotic currency pairs due to lower liquidity and higher spreads.
Case Study 1
On EURCHF M5 during the London session, price was above the Zero Lag MA, confirming a bullish trend.
A blue candlestick appeared on the Silver Trend indicator.
A buy trade was entered and later closed for 18 pips when the next resistance level was reached and a red candlestick formed, capturing a short-term intraday uptrend.
Case Study 2
On GBPJPY M15 during the New York session, price was below the Zero Lag MA, indicating a bearish trend.
A red candlestick appeared on the Silver Trend indicator.
A sell trade was initiated and closed for 43 pips when price approached the next support level and a blue candlestick appeared, successfully following the intraday downtrend.
Strategy Tips
- Focus on trades where the Silver Trend candlestick and Zero Lag MA are fully aligned for the strongest setups.
- Use M5 for fast scalping, M15 for balanced intraday trades, and H1 for longer-term moves within the day.
- Check higher timeframes before entering to ensure overall market direction supports the trade.
- Consider moving your stop loss to breakeven once a portion of the trade is in profit to protect gains.
- Partial profit-taking at key support and resistance levels can help lock in profits while leaving room for trends to run.
- Keep a trading journal to track which currency pairs and timeframes yield the most consistent results.
- Be patient and wait for clear confirmation from both the candlestick color and MA position before entering any trade.
- Use additional trend or volume filters if desired to refine entries and avoid whipsaws in choppy markets.
Download Now
Download the “silver-trend.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (risk, SSP, CountBars) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Trend
