Trend Signal Version 2 Indicator for MT4

A trend reversal is an excellent trade entry point as it allows traders to open trades that can yield large profits. However, it can also be very difficult to predict. The Trend Signals Indicator Version 2 is designed to help traders spot potential trend reversals using indicators that show price fluctuations.

What is Trend Signal Version 2 indicator?

The Trend Signal Version 2 indicator is a trend-following technical indicator that can be used as a trend reversal signal indicator.

This indicator identifies potential trend reversal points and price fluctuations. He then drew an arrow pointing in the direction of a potential trend reversal. It shows a blue arrow pointing up to indicate a potential bullish reversal and a magenta arrow pointing down to indicate a potential bearish reversal. The indicator also connects arrows with lines, which allows users to see price fluctuations.

How does the Trend Signals Version 2 indicator work?

The Trend Signals Indicator Version 2 uses a complex algorithm that allows it to spot potential trend reversals. Based on the code, the indicator compares the price movement with the average range of the candlestick. The indicator then draws an arrow whenever it detects a trend reversal pointing in the direction of a new trend. Then connect the point where the arrow was placed to the point where the previous arrow was. It forms a zigzag-like pattern which is quite different from the classic zigzag indicator.

How to use the Trend Signal Version 2 indicator for MT4

Trend Signals Indicator Version 2 has several variables which can be modified in its indicator settings.

How the Trend Signal indicator version 2 works

“RISK” modifies the threshold at which the indicator will detect price fluctuations. The lower the input value, the more sensitive the indicator is. Increasing the input value will remove some of the identified price points if the RISK value is lower.

“SSP” also modifies points that the indicator will recognize as valid trend reversals. The higher the input value placed on the SSP, the more lag the indicator has. It also has a tendency to miss some price fluctuations if the value of the input on the SSP is increased.

“Enablemail” enables or disables email push notifications about possible trend reversal signals.