Identification of trends on higher timeframes is very important when it comes to trading. The Higher Timeframe indicator is a very useful tool for this.
Features of the Higher Timeframe Indicator
The Higher Timeframe Indicator is a popular, free Forex indicator. Traders can quickly and simply determine the trend direction on longer timeframes. The indicator is beneficial in that it incorporates all the timeframes in one. You can study and analyse the various trends on different timeframes in one timeframe. This way, you can always trade in the direction of the trend. Higher timeframes, such as daily, weekly, and monthly, show the major trend direction.
Using colors and arrows, the indicator also displays the strength of the trend in these timeframes. A green arrow represents a downward trend, while a red arrow shows an upward trend. The arrow’s length also indicates the strength of the trend.
How the Indicator Can Benefit You
The indicator is useful for both new and experienced traders. Moreover, traders who wish to understand the trend direction in longer timeframes will find the Higher Timeframe Indicator useful.
When looking for trading opportunities in a lower timeframe, you can use the indicator to ensure the trend is the same in larger timeframes. This way, you can trade in the direction of the bigger trend. Additionally, you can choose to only trade when the trend is strong.
Indicator Setting Description
Higher Timeframe: This input allows you to select the time frame that the indicator shall display.
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