Skdon Trend Indicator is known as the trend-following forex trading indicator which is able to signal the trend and the trade at the same time with fewer lagging issues. However, this indicator performs better within shorter timeframe charts like M1 to M15 since it produces frequent trading signals. Therefore, this indicator is a better fit for scalpers or intraday traders.
Skdon Trend Indicator works better when applied for trading the major currency pairs. Its easy chart demonstration and simpler signaling method offer great advantages for newbie traders.
Skdon Trend Indicator Overview
After the installation of the Indicator at the MT4 terminal, your trading chart will appear like the image below:
Also Read: CAP Channel Indicator MT4
Skdon Trend Indicator Anatomy
This Indicator applies colored bars around the price bars in order to signal the market trends. Its bars turn blue when the trend is bullish and turns red to signal the bearish trend of the market. For long entry, price bars must close above the blue indicator bars and for a short entry, price bars should be closed below the red bars. For better understanding, this indicator uses colored arrows pointing to the trade directions. Whenever you notice an opposite signal to your trade entry, consider it as an exit signal.
Skdon Trend Indicator: Trade Conditions
- The price bar closes above the indicator bars
- The Indicator turns blue
- A blue upward arrow is plotted below the price bar
- Buy triggers when all of the above conditions are met
- Set stop loss below the signaling arrow
- Exit long/take profit whenever the indicator turns red with a downward arrow is plotted above the price bar
- The price bar closes below the indicator bars
- The Indicator turns red
- A red downward arrow is plotted above the price bar
- Sell triggers when all of the above conditions are met
- Set stop loss above the signaling arrow
- Exit short/take profit whenever the indicator turns blue with an upward arrow is plotted below the price bar