EasyTrend is simple and at the same time very powerful indicator, which is suitable for both scalping and long-term trading. The indicator is not repainted and automatically detects the current timeframe and adapts to it. In the indicator settings, you also do not get confused - there everything is simple and there are no parameters that are incomprehensible to the trader.
Characteristics of EasyTrend
- Platform: Metatrader4
- Currency pairs: EURUSD, GBPUSD, NZDUSD, AUDUSD, USDCHF, USDCAD, USDJPY, XAUUSD, XAGUSD
- Trading Time: Around the clock
- Timeframe: M1, M5, H1, H4, D1
- Recommended broker: Alpari, InstaForex
How the EasyTrend works
According to the developer of the indicator, the principle of its work is as follows:
“It is based on the analysis of the current change in the price deviation from its average value over a certain period and the statistical average of the absolute value of this parameter. The analysis results are adjusted by the sensitivity coefficient and vertical shifts, which in turn depend on the current trading instrument, timeframe and inclination angle of the trend channel. All internally variable parameters, values and automatic adaptation is managed by a simple neural network.”
How to use the EasyTrend
Since the EasyTrend is a trend indicator, the author recommends trading in the trend and checking the signal at higher timeframes.
The timeframes for checking the trend:
|Current timeframe||Timeframes for checking|
|M1||M5 and M15|
|M5||M15 and H1|
|M15||H1 and H4|
|M30||H4 and D1|
|H1||H4 and D1|
|H4||D1 and W1|
|D1||W1 and MN1|
How to Trade:
- Choose the timeframe for trading, for example: M5. Wait for the indicator signal to buy or sell.
- After receiving the signal, make sure to check the trend on the higher timeframes. When trading on M5, check M15 and H1 — trends have to be distinct (not flat) and match your signal.
- Wait for the arrow to close above the indicator line when there is a sell signal, or below when there is a buy signal, and open a trade only after that. Set the Stop loss level at the same (or slightly greater) distance from the indicator line, by which the price has deviated after the signal appearance. The trade can also be closed based on an oscillator signal.
Close order at your discretion: when the price crosses the indicator line, when the oscillator generates an opposite signal, when the order closes by trailing stop.
Visually it looks like this:
The author claims that the Easy Trend fits well with classical oscillators, such as CCI, ADX, RSI, MFI. Thus, these oscillators can be used as additional filters to detect false signals. This will significantly strengthen the trading system.
In the archive EasyTrend.rar:
Free Download EasyTrend