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.
How To Use The Trend Viper MT4 Indicator?
The Trend Viper Indicator has been developed for the MT4 platform. You will need to place it into the relevant folders of your MT4 installation and you will then be able to attach it to your charts in the platform. You can adjust the input settings according to your own trading style and it will then start analysing your charts for potential trading signals.
In order to use the Trend Viper Indicator, you will need a trading account with a forex broker. With so many forex brokers to choose from nowadays, it can seem very difficult to find a suitable option. If you are new to forex trading online and looking for some ideas, please feel free to browse my best forex brokers for some inspiration along the way.
IC Markets are my top choice of forex broker for manual and automated trading strategies. This is because I find them to have tight spreads, low commission fees and plenty of liquidity which means that you can get your trades executed at some of the best forex market prices at all times. From my experience, they also provide excellent 24/7 customer support and have a good variety of convenient account funding options for you to choose from.
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.
Hopefully, this Trend Viper Indicator Review will help you to decide if this is a forex trading strategy that you would like to try out. I think that it has some potential but does require the user to take some initiative. This means that you will need to confirm each trading signal with your own market analysis to make sure that you are happy to take the trade. If not, you can always wait for the next opportunity to come along.
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.
Overall, I think that Trend Viper is a basic forex strategy, and I do not think it is much different from a trading strategy template that you could build yourself in the MetaTrader platform by simply using the default technical indicators (including the ADX that this indicator uses) and drawing objects that are included within the platform free of charge. If you want to learn more and get the Trend Viper indicator download you can visit the website using the link below.
Trend Viper MT4 Trend Indicator
$67
Pros
- Any Currency Pair
- Any Timeframe
- 30 Day Money Back Guarantee
- Full Support
- Detailed Instructions
- MetaTrader 4
- Indicators
- Dashboard
- Trend Following
- Signals
Cons
- MetaTrader 4 Only
- Takes Time To Learn How To Use
- Quite Basic Forex Strategy
- Requires User Input
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
