The Perfect Trend Line 2 Forex Indicator is a variation of a popular “Perfect Trend Line Indicator.” This version adds a sort of signal filtering, which helps clean up some false signals in the original version. The Perfect Trend Line indicator provides two types of entry signals. First is the appearance of the blue and red dots – blue dots trigger buy trades, and red dots indicate sell trades. The second method is the color candle switch: when the red candles switch to blue, it is a signal for long trade; alternatively, a switch from blue to red triggers short trade.
The Perfect Trend Line 2 Indicator fits all mt4 timeframes and currency pairs. It is shown directly on the main mt4 trading chart. The default indicator settings can be modified now from the input tab. Feel free to test with the settings and parameters to fit your preferences.
How can the Perfect Trend Line 2 indicator be set up in MetaTrader (MT5)?
Download the Perfect Trend Line 2.zip archive at the end of this post, unpack it, then copy and paste the Perfect Trend Line 2.ex5 or Perfect Trend Line 2.mq5 forex indicator files into the MQL5 folder of the MT5 trading platform.
You can open this folder by clicking the menu options, which goes as follows:
File > Open Data Folder > MQL5 > Indicators.
Now go to the left side of your MT5 terminal. In the Navigator, find the name, right-click it, and select Attach to the chart.
The Perfect Trend Line 2 indicator is worth adding to your trading collection. An awesome forex indicator will enhance your chance of success. Nonetheless, remember to have very realistic expectations. Like any other technical analysis tool, it cannot always provide 100% accurate signals. Thus, this forex indicator provides false entry signals occasionally. Its performance will vary significantly depending on forex market conditions. Feel free to develop your trading system based on it. Don’t forget that we still have more great free forex MT4 and MT5 indicators to download and try.