The Trendbar forex indicator for Metatrader 4 is composed of ADX and PSAR (Parabolic Sar).
The indicator displays the prevailing trend for any currency pair and timeframe.
There are 3 possibilities:
- A green small box represents a bullish trend.
- A small red box represents a bearish trend.
- A yellow box represents a flat trend.
Basics:
All boxes colored green represent a strong bullish trend. All timeframes are bullish.
All boxes colored red represent a strong bearish trend. All timeframes are bearish.
A mix of green and yellow boxes represents a weak uptrend.
A mix of red and yellow boxes represents a weak downtrend.
A mix of red, green, and yellow boxes represents a range-bound market.
Free Download
Download the “gg-trendbar.mq4” MT4 indicator
Trading Chart
The EUR/USD 1-hour chart below displays the Trendbar Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Trendbar MT4 indicator are easy to interpret and go as follows:
Buy Signal: Open buy position when ALL MT4 trend boxes are colored green. Place a stop-loss below the previous swing low price.
Sell Signal: Open sell position when ALL MT4 trend boxes are colored red. Place a stop-loss above the previous swing high price.
Trade Exit: Use your own method of trade exit.
TrendBar + XTC Indicator Day Trading Strategy for MT4
This MT4 day trading strategy blends the multi-timeframe direction of the TrendBar Indicator with the momentum signals from the XTC Forex Trend Indicator.
TrendBar provides a quick overview of the market by showing green boxes for bullish conditions, red boxes for bearish conditions, and yellow boxes for flat markets.
When all boxes turn green, the market pushes upward across all timeframes. When all boxes turn red, the market trends downward with strength.
The XTC Indicator adds entry precision by coloring its histogram.
Blue bars signal rising momentum and red bars signal falling momentum.
By combining both tools, day traders can filter out weak setups and focus on trades backed by both broad trend strength and immediate momentum.
The method performs well on the M15, M30, and H1 charts where intraday swings develop cleanly.
Buy Entry Rules
- TrendBar shows green across all timeframes, confirming a strong bullish direction.
- The XTC histogram prints blue bars, showing rising momentum.
- Enter long on the next candle after the first clear blue bar.
- Place a stop loss below the most recent swing low.
- Take profit at a 1.5 to 1 reward-to-risk level or exit when the histogram turns red.
Sell Entry Rules
- TrendBar shows red across all timeframes, confirming a strong bearish direction.
- The XTC histogram prints red bars, showing falling momentum.
- Enter short on the next candle after the first clear red bar.
- Place stop loss above the most recent swing high.
- Take profit at a 1.5 to 1 reward-to-risk level or exit when the histogram turns blue.
Advantages
- Multi-timeframe filtering avoids counter-trend trades.
- XTC provides clear entries that are easy to read during fast intraday moves.
- The strategy suits day traders who need quick and reliable setups.
- Pairs with good volatility and other assets, such as GOLD and the US30 index, work well.
Drawbacks
- TrendBar yellow signals reduce trading opportunities.
- News spikes may cause fast histogram color changes.
- Momentum can fade during slow sessions, such as late New York.
- Some good trends may form without a matching XTC entry.
Example Case Study 1: AUDUSD M30
AUDUSD entered a strong uptrend during the Asian session.
All TrendBar boxes turned green after a breakout above a consolidation zone.
A few candles later, XTC printed strong blue bars.
A long entry was placed at 0.6645 with a stop at 0.6628, risking 17 pips.
Price continued rising throughout the session and hit the take profit target at 0.6671 for a gain of 26 pips.
The clean alignment of all TrendBar boxes and the early blue bars from XTC created a simple and controlled trade.
Example Case Study 2: CADJPY H1
CADJPY showed full bearish alignment across the TrendBar during the early European session.
Shortly after, XTC printed consecutive red bars.
A short position was opened at 115.30 with a stop at 115.55, risking 25 pips.
The pair dropped sharply during a risk-off move and reached the take profit level at 114.92 for a gain of 38 pips.
The trade unfolded smoothly because both indicators pointed in the same direction, and momentum stayed consistent.
Strategy Tips
- Always check higher timeframe alignment. Make sure M5, M15, H1, and H4 TrendBar boxes match your trade direction. If the higher timeframes disagree, skip the setup.
- Use the XTC histogram as the final trigger. Let TrendBar define the trend and enter only when the histogram flips color with a clear and consistent bar.
- Enter after small pullbacks. In an uptrend, wait for the price to retrace a bit and then enter on the next blue XTC bar. This prevents chasing the market.
- Avoid trading during major news events. Economic releases such as NFP, CPI, or FOMC often create unstable TrendBar readings and false histogram flips.
- Trail stop-losses behind recent swing highs or lows. This adapts naturally to changing volatility and protects profits as the trend continues.
- Take partial profits. Secure a portion of your position around 15 to 20 pips and let the rest run with a trailing stop for extended moves.
Download Now
Download the “gg-trendbar.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (ADX period, ADX price, step Psar) 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
