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Flat Trend SMC

Identify neutral, bearish and bullish forex price trends. Avoid trading during neutral trend. Improve your winning trades using this Flat trend SMC MT4 indicator. Easy multi colored histogram works for scalping, short and long-term trading.

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Description

The Flat trend SMC MT4 indicator provides neutral, bullish and bearish forex trading signals. It combines a slow, medium and fast moving average to identify these different stages of trend.

Features of Flat Trend SMC MT4 Indicator

The indicator plots the price trend as a multi colored histogram bar. Red indicates a bearish market, Green is bullish and gold shows a neutral or flat trend.

Generally, moving average based forex trading indicators use one or two moving averages to identify the trend direction. However, they tend to provide either a bullish or bearish trend direction based on the location of the price in relation to the moving average value. On the other hand, moving average cross over based trading systems also provide similar output.

The period of the three moving averages in the input settings influence the output trading signals. A higher period generates long term trend signals, however lower values provide frequent trades.

Traders can enter a buy trade if the green histogram bar appears and place a stop loss below the previous swing high. The best profit booking point will be at the opposite trading signal. A similar trading strategy is suitable to open a sell trade if the histogram bar turns red.

Benefits of Flat Trend SMC MT4 Indicator

It is interesting to note that the traditional moving average trading indicators and systems do not identify a neutral or flat market condition. However, this indicator classifies the trend in three different stages. It helps forex traders to stay in the sidelines during a neutral trend where most trend based forex traders tend to lose money.

Furthermore, this indicator is simple to use and is suitable for all types of forex traders and accommodates all trading styles.

Indicator Settings Description

Minutes: Desired chart time frame for indicator calculation.

MA1Val:, MA1Type:, MA2Val:, MA2Type:, MA3Val:, MA3Type: Moving average period and price type.

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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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