BRAIN TREND INDICATOR: –
The brain trend indicator is a Meta trader indicator used to detect the support and resistance levels in the market trend and draw them on the indicator chart. Brain trend indicator is a mixture of stochastic indicator and ATR indicator. ATR indicator is used to remove the signals from the trends that are used to detract the traders from the profitable trade.
It is also used to detect the buy and sell signals and entry and exit points in the market trend. The stochastic indicator is used to detect the oversold and the overbought in the market trend through the retracements in the trends. Brain trend indicator is the best indicator for short term traders.
Brain trend indicator is applicable for all the traders no matter these are beginner traders, advanced traders, or the expert traders. It is lagging and trend following indicator. Brain trend indicator is also helpful for scalping. It is also used to compare price actions, candlestick patterns, and indicator chart patterns.
CHARACTERISTICS of Brain trend indicator:-
The brain trend indicator is a simple indicator that can use all the timeframes and all the currency pairs but the best timeframe for Brain trend indicator is 1 Minute, 5 Minutes, 15 Minutes, 30 Minutes, 1 Hour, 4 Hours, 1 Day, 1 Week, and 1 Month. It is only a chart pattern indicator.
It also has customization options like distance, alerts, email alerts, messages, colors, style, and width. It uses arrows to indicate the trends in the Forex market. Mostly, used trends are bullish trend and the bearish trend. It can be used in all forex brokers but the best brokers are Meta trader 4 and 5.
Brain trend indicator uses different color schemes and specific level or a pip that helps the traders to differentiate between different trends and reversals. It helps the traders in easy understanding. It uses blue, green, red, Magenta, Cyan, and black colors.
Blue and green colors are used to detect the buy rates and ups in the market trend; the red color is used to indicate the sell rates and downs in the market trend, cyan and magenta colors are used for arrows cyan color is used to represent downward pointing arrows while magenta color is used to indicate the upward-pointing arrows in the indicator chart. Brain trend indicator also uses some specific rules for buy and exit strategies. These rules are given below: –
BUY AND EXIT RULES: –
- When the blue candlestick pattern appears on the indicator chart and two lines blue and red lines appear on the same time, the blue line is crossing the red line and starts to move in an upward direction, then it is the time to enter for the buy and the market is trending in the bullish trend.
- When the red candlestick pattern appears on the indicator chart and two lines blue and red lines appear on the same time, the red line is crossing the blue line and starts to move in a downward direction, then it is the time to enter for the sell and the market is trending in the bearish trend.
- When a bullish trend starts trending in the market trend and it starts moving down then it is the time to place buy strategy and stop-loss at that time.
- When a bearish trend starts trending in the market trend and it starts moving upward then it is the time to place sell strategy and stop-loss at that time.
- When the blue line starts moving downward and the red line is moving above then it is the time to exit the buying strategy and take profit.
- When the red line starts moving upward and the blue line is moving below then it is the time to exit the selling strategy and take profit.
USES OF BRAIN TREND INDICATOR: –
The brain trend indicator has the following uses. Brain trend indicator is used to detect whether the market is trending in the bullish trend or the bearish trend. It is a useful indicator that compares all the marketing situations to create perfect trends that give profitable trade to the traders. It is one of the best trend indicators.