The VH forex indicator for MT4 generates the best trend-based forex trading signals, BUY at the BULLISH trend and SELL at the BEARISH trend, with the color signal.
To generate the best forex trading signals, the VH indicator for MT4 combines several indicators. A trend-following indicator displays the BULLISH and BEARISH trends in the chart window as continuous dots. As a result, it presents the trend graphically. Therefore, forex traders may place BUY or SELL trades by the trading signals and readily interpret them.
What is the Purpose and working of VH indicator for MT4?
The VH indicator is best for new and advanced forex traders. New traders can identify the BULLISH and BEARISH trends at a glance and use the trading signals accordingly. At the same time, advanced forex traders can use this strategy as a standalone indicator or with a combination of indicators.
The indicator is good at identifying market trends. So, technical forex traders can use this indicator to primarily determine the trend and then add an oscillator to confirm the trading signals. Traders will easily analyze the market once the trend direction is identified. Additionally, the indicator is free to download and easy to install.
The indicator performs well on daily, weekly, and monthly price charts and intraday time frames. Any multi-timeframe (mtf) technical trading method works well with the indicator because it detects trends across all timeframes. Higher time frame trends typically last longer and are more reliable than lower time frame trends. Therefore, forex traders can locate the primary trend on the chart with a higher period. On a chart with a lesser period, traders can place trades in the same direction using the major trend’s direction. The trader can plan an early departure and choose the optimal entry price.
Forex traders can place a BUY order once the indicator’s color switches to BLUE to signal the start of a BULLISH trend. The previous swing low serves as the optimum stop loss for this trade, while the opposing trade signal serves as the take-profit goal.
On the other hand, if the signal becomes RED, forex traders might open a SELL position. Since the indicator’s color signifies the end of the current trend, traders can follow it and hold their position until the indicator changes. Above the previous swing, high is where we should place the stop loss for this trade.
The VH indicator for MT4 is a must-have for forex trend traders. Finding the BULLISH or BEARISH trend direction is the main objective of trend traders. This indicator does its best to help the trader see the trend to buy into or sell into and then ride it out. Therefore, it is appropriate for any trend-based technical trading strategy for forex. Additionally, forex traders can quickly and gratis download the indicator.