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Super Trend V2

Do you want to be a profitable forex trend trader? Super Trend V2 MT4 Indicator uses the CCI to provide trend direction and reversal signals. Easily identify bullish and bearish trend. Buy and Sell trading signals are based in indicator line change.

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Description

The Super Trend V2 MT4 indicator uses the classic CCI indicator to identify the trend direction. Furthermore, it detects any bullish or bearish forex trend reversals and provides forex trading signals. As a result, this indicator provides best trading results for forex trend traders.

Features of Super Trend V2 MT4 Indicator

The indicator plots a green and red indicator line on the price chart. This line changes color upon the trend change. Green indicates uptrend while red is downtrend. The driving engine behind this indicator is the CCI – Commodity channel index. Since CCI is well established as a trend detection and trend following instrument, it reflects in the color changes of this indicator.

The trading strategy is simple and straight forward, entry and exit is based on the color change of the indicator line. Simplicity of this indicator does not compromise the quality of the trend trading signals.

Benefits of Super Trend V2 MT4 Indicator

The main benefit of this indicator is the identification of forex trend direction at a glance. Additionally, it is effective for new forex traders to filter the trading signals during technical analysis or in trading strategies.

This indicator works well on all chart time frames and is suitable for scalping, intraday, short and long-term forex trading strategies. In fact, the indicator has separate settings for every chart time frame from M1 to Monthly. Traders can use the appropriate chart time frame to achieve their trading goals. Lower time frames cater to the scalpers and intraday traders while higher the time frames provide the trading signals for long term traders. So, this indicator is flexible and benefits all types of forex trend traders.

Indicator Settings Description

TrendCCI_Period: Period for CCI calculation.

Automatic_Timeframe_setting: Enables chart time frame detection automatically.

M1_CCI_Period to MN_CCI_Period: Period for time frames from M1 to monthly chart.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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