T3 Coral MTF Indicator is a trend following forex scalping indicator, specially designed for the newbie traders who struggles with their daily short-term trading activities. This is why its developers have tried to keep its signal demonstration process simple and easy so that traders with any experience level can master it quite easily.
T3 Coral MTF Indicator can be applied to trade all kinds of forex currency pairs within the financial markets. Although, as a scalping indicator, this indicator fits well with M1 to M15 timeframe charts.
T3 Coral MTF Indicator Overview
After the installation of the indicator at the MT4 terminal, your trading chart will appear like the following image
T3 Coral MTF Indicator Anatomy
T3 Coral MTF Indicator works almost as like the Moving Averages. But the difference is, this indicator applies colors to clearly show the changes in trends. It turns green whenever the price closes above the indicator level in order to signal the bullish trend and the buying opportunity based on the trend changes. For sell entry, the price must be closing below the indicator level thus, you’ll have to wait until the indicator turns into the red color. Although this indicator is a stand-alone indicator, traders may apply other trend-following indicators along with it for greater performances.
Also Read: MA 3 Color MT4 Indicator
T3 Coral MTF: Buy Conditions
- Price bar closes above the indicator level
- The Indicator turns into green color
- Buy triggers when the above conditions are met
- Set stop loss below the indicator level
- Exit long/take profit whenever a price bar closes below the indicator level
T3 Coral MTF: Sell Conditions
- Price bar closes below the indicator level
- The Indicator turns into red color
- Sell triggers when the above conditions are met
- Set stop loss above the indicator level
- Exit short/take profit whenever a price bar closes above the indicator level