In this post I will be reviewing the i-Candle Code Trend Follower. This is a technical analysis trading indicator for MetaTrader 4 that will identify the trends from the 15 minute to daily time frames and display a dot on the chart of the current time frame when the trend on each time frame agrees. This is a very useful tool that will allow you to focus on the current time frame chart that you are trading whilst analysing the higher time frame charts for you and alerting you when there is a trend.
i-Candle Code Trend Follower
The i-Candle Code Trend Follower is so simple to use with clear entry/exit signals – a blue dot means the trend is up so buy and a red dot means the trend is down so sell. It is suitable for beginners and a great additional indicator for the more advanced trader. It includes plenty of screenshots and videos explaining how it works with numerous examples.
i-Candle Code Trend Follower Summary
The i-Candle Code Trend Follower does a great job for spotting the start of forming trends so it gives you a great opportunity to enter a big move from the very beginning which in turn ensures you have a good risk to reward ratio. It even recommends where to place the stop loss which is usually above the high or below the low of where the trend began forming. It does not repaint (change after the fact) as it uses closing prices only so the trends it identifies are strong and valid whilst it does a great job of filtering out false signals.