In this post I will be reviewing the Trend Viper MT4 Trend Indicator. This is a customisable trend indicator and dashboard for the free MetaTrader 4 trading platform which gives you buy and sell signals based on what it deems to be market trends. It gives you the signals for entering and exiting trades but it also display indicators and a dashboard that gives you a clear overview of the current trend across multiple time frames. This includes the trend direction and trend strength, colour coded for fast trend analysis. It is very easy to understand, interpret and to trade with making it suitable for beginner traders whilst also being a useful trading system for the more advanced trader. You do not need to take all signals. I would certainly be filtering all the signals with my own analysis for extra confirmation.
Trend Viper MT4 Trend Indicator Trading Strategy
In a nutshell, the Trend Viper trading strategy uses a combination of MetaTrader 4 trend indicators as it combines moving average crossovers, ADX filter and multiple time frame analysis – all in one easy to view dashboard. Price action is also a key part of the strategy. The settings are fully customisable so you can choose the time frame and values for analysis tailored to your requirements.
The Trend Viper MT4 Trend Indicator can identify entry points into trends whilst filtering out ranging market conditions. It does not repaint so the signals remain valid even after the candles have closed which also makes it suitable for visually back testing. It can be used on any currency pair and any time frame and will also show you the trend direction and strength on greater time frames if you want to check that you trade only in the direction of short, current and mid-term trends.
You can use the Trend Viper MT4 Trend Indicator to filter your own trading strategy entries or you can use it as a standalone trading system and take the buy/sell signals that it generates for you. You can even use an opposite signal for an exit point.
I would trade it on the h1 charts and above to filter out some noise from the lower time frames. I would also use good money management and try to keep my risk to reward ratio at least 1:3 so that winning trades outweigh the losing trades. That way, I would only need less than a 50% win rate and still be in profit. I would also use this trading system on the major currency pairs as they can form long term trends and whilst they also have tight spreads and plenty of liquidity most of the time.
Trend Viper MT4 Trend Indicator Summary
Overall, the Trend Viper MT4 Trend Indicator can help the user to identify market trends. You can use it as a filter for your own trading strategy or as a complete trading strategy. It is easy to use without needing multiple indicators on your charts as all information is displayed on your chart in the colour coded dashboard. Buy and sell signals are generated when it finds a possible entry opportunity into the trend and will be displayed in a pop up window with sound alert on your terminal, sent via email and/or as a message to your mobile phone.
Signals are clearly identified by viewing the dashboard which will be all red for a sell or all green for a buy. You can follow multiple time frames and multiple currency pairs and be selective on trades. I would be sure to use smart money management and good trading discipline. It is very reasonably priced at just $67, has full detailed instructions and videos explain how to use it as well as full support. It also comes with a 30 day money back guarantee.