The Super Trend Signal MTF forex indicator consists of a dual colored buy/sell signal line that works great in trending markets.
Super Trend Signal alternates its color between green and orange.
- The start of the green line signals a buy trade opportunity
- The start of the orange line signals a sell trade opportunity
Close the open position when the signal line changes its color, either from green to orange or from orange to green.
You can select other timeframes (MTF) directly from the indicator’s inputs tab.
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Download the “supertrend_nrp_new_mtf_2.ex4” MT4 indicator
Indicator Chart (NZD/USD H1)
The NZD/USD H1 chart below displays the Super Trend Signal MTF Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the Super Trend Signal MTF MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a new buy position when the Super Trend MTF signal line changes its color from orange to green.
Place a stop loss below the most recent low.
Sell Signal: Open a new sell position when the Super Trend MTF signal line changes its color from green to red.
Place a stop loss above the most recent high.
SuperTrend MTF + Elite PRO Scalper Day Trading Strategy (MT4)
This trading strategy combines the SuperTrend MTF Indicator with the Elite PRO Scalper Indicator.
The SuperTrend MTF gives a clear directional context by plotting a green line for a bullish trend and an orange line for a bearish trend.
The Elite PRO Scalper adds precise entry arrows: blue arrows for buy and red arrows for sell.
Using these together on M5 and M15 timeframes helps you capture intraday trend moves with well-timed entries.
This strategy suits day traders who want structured setups with trend filtering and clear signals.
It works best during the London and New York sessions, on moderately volatile currency pairs like EUR/USD, GBP/JPY, USD/CAD, or NZD/USD.
By combining trend direction with arrow signal confirmation, you reduce the risk of entering against the trend or taking weak signals.
Buy Entry Rules
- On M5 or M15, check that the SuperTrend MTF line is green, signaling a bullish trend.
- Wait for the Elite PRO Scalper to show a blue arrow.
- Enter a long trade at the close of the candle with the blue arrow, only if the SuperTrend line remains green.
- Place a stop loss just below the recent swing low or below the arrow candle.
- Take profit target: 10 to 25 pips on M5, or 20 to 40 pips on M15, depending on session volatility.
- Optionally, trail your stop using the SuperTrend line. Exit if the line turns orange or the price closes below it.
Sell Entry Rules
- Check that the SuperTrend MTF line is orange, indicating a bearish trend.
- Wait for a red arrow from the Elite PRO Scalper.
- Enter a short trade at the close of the arrow candle, only if the SuperTrend line remains orange.
- Place a stop loss just above the recent swing high or above the arrow candle.
- Take profit target: 10 to 25 pips on M5, or 20 to 40 pips on M15.
- Trail the stop using the SuperTrend line. Close the trade if it turns green or the price closes above it.
Advantages
- Trend filtering ensures trades align with the broader trend.
- Precise arrow entries make timing easy for intraday trades.
- Works well on both M5 and M15 charts, allowing flexibility for scalping or short-term day trades.
- Adaptable profit targets based on pair volatility and session activity.
- Trailing stop with SuperTrend helps lock in profits and manage risk.
Drawbacks
- The SuperTrend line may lag slightly, causing delayed entry or exit signals.
- Tight stop losses may get hit during volatile spikes, especially on M5.
Case Study 1
On GBP/JPY M15 during the New York session, the SuperTrend MTF line was green, indicating a strong uptrend.
After a small pullback, the Elite PRO Scalper produced a blue arrow.
The trader entered long at the close of the candle and placed a stop just below the latest swing low.
The pair moved steadily upward, reaching a 30 pip target.
The SuperTrend line stayed green, giving confidence to hold the trade.
Partial profit was taken at 25 pips, and the remaining position was closed when the SuperTrend line changed color.
Case Study 2
On EUR/USD M5 during the London session, the SuperTrend MTF line turned orange, signaling a bearish trend.
Shortly after, a red arrow appeared from the Elite PRO Scalper.
A short position was entered at the candle close, with a stop above the arrow candle.
Price dropped quickly, reaching a 15 pip target.
The histogram stayed orange, allowing the trader to trail the stop and capture additional pips before exiting the trade.
Strategy Tips
- Use moderately volatile currency pairs such as EUR/USD, GBP/JPY, USD/CAD, and NZD/USD.
- Keep position sizes moderate to reduce risk with tight stop losses.
- Avoid trading around major news events, which can cause the SuperTrend line to flip frequently.
- Take partial profits at the first target and trail the remaining position with the SuperTrend line.
- Test on a demo account first to get familiar with timing and trade execution.
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Download the “supertrend_nrp_new_mtf_2.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (period, multiplier, timeframe) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: trend signals
