Trend Indicator with Free Trading Signals for MT4 – TrendViper
The long awaited non repainting trend indicator and visualizer is finally here. We call it TrendViper because it trails nicely like a snake. If you use Moving Averages in your trading this indicator is a must have. While it took some time to develop, we are proud to announce that this indicator is a fantastic tool for any type of trader, be it in binary options or forex.
It generates fully configurable BUY and SELL signals that are shown in a popup or can be delivered via email or to your mobile. However, this indicator can do a lot more!
Here is a first glimpse at how it looks on the MetaTrader 4 platform.
There are many features which make this indicator extremely useful. It is mostly based on moving averages and crossovers, however, it also features a live display window with additional, very useful information that will empower your trading.
Here is a close up of with brief explanation of each feature within the display.
The TrendViper indicator Display for MT4
The beauty of this indicator is that it can be used in many ways. Below is detailed a break down of all the features and options that are shown in the display.
Shows current trend direction based on set MA crossovers. When the fast MA is above the slow MA, the trend direction rectangle turns green. If the fast MA is below a slow MA, the rectangle turns red. This logic applies to all trend settings. Moving averages and crossovers are the most fundamental trading tools used by most professional traders.
Trend direction on upper time frames
These two smaller square boxes show the current trend (the position of the fast MA in relation to the slow MA) on two upper time frames. If you trade 5 minute chart these two boxes will show you the trend with the same MA settings on the two upper time frames, namely M15 and M30. If you trade 1H chart, the boxes will show the current trend on H4 and D1. This is helpful in establishing the dominating trend.
Current price – changes with each tick
This is the current price of the asset. This is a color coded information and changes with each tick. When the price is going up the color of the price changes to green, when it is going down, it changes to red. As the current price changes with each tick it is ahead of any other information such as the candles (on a candle chart) or trend boxes. Some traders find trading opportunities by looking at the speed of price changes alone.
Candle time – countdown
The candle time shows how much time remains to the next candle. So if you’re trading on a 5 minute chart this countdown will start from 00:05:00 at the start of each candle and go down to 00:00:00. This is especially useful in timing your entries in binary options or spot forex. The candle time is shown in red only. (Please note that this is not a typical stopwatch countdown but one that is dependent on the price movement of the candle it measures.)
The most obvious feature in the display. It simply shows the direction of the current candle. Green is bullish, up and red is bearish, down. Might be useful for traders who don’t use candles on their charts or they are not color coded.
Candle direction on upper time frames
These three small boxes show the current candle direction on upper time frames. If you’re trading the 5 minute chart the boxes will display the current state of the candle on M15, M30, H1 charts. This is useful in establishing the prevailing trend at the present moment.
BUY and SELL alerts – Free Trading signals
TrendViper might become the only indicator you’ll ever need. Many professional top traders use moving average crossovers in their trading. Some expert traders, such as James Rochbach even admit that that’s the main thing they look at because moving averages smooth out the price action and remove the market noise.
TrendViper is programmed to generate BUY or SELL alerts each time two moving averages (fast MA and slow MA) cross. The default setting is 10/50. This was based on a technical study that revealed highest wins near those settings, known as the Golden Cross.
However, the default settings of 10/50 can be modified and adjusted. Some traders prefer to use 15/30, or 10/20, and long term traders prefer 50/200. If you’re not an experienced trader we recommend keeping the default settings.
Here is a screenshot of a good SELL signal setup on EURUSD H4 chart. A popup with sound alert would have been generated at the time of the signals. It’s also possible to configure TrendViper to send its alerts via emails or phone.
When it comes to setting the MAs, the lowest the numbers of the moving averages the more signals will be produced. 10/20 MA combination will produce many more signals than 10/50 MA for example.
Note to BinaryViper users. If you use our free Binary Viper indicator, we recommend a setting of 4/10 and entering the trades only if the TrendViper signal comes right after a signal from Binary Viper in the same direction, as close as 1-4 candles. You can also work out a different system and settings.
When NOT to trade the Buy /Sell signals
It’s important to understand that although these signals can be quite accurate, they will require your approval. TrendViper is a non-repainting indicator but as all indicators, it lags behind the price action. TrendViper should not be traded in sideways markets or during major economic releases. Also we recommend trading M15, M30, H1, H4, D1 time frames. Trading the signals on M1 charts can be risky.
Example image above shows how contracting Bollinger Bands, sideways price movement, and sudden spikes in price can be good indicators of when to stay away from the signals.
Trade with TrendViper indicator during busy market hours
This MT4 trend indicator helps to recognize and follow trends. It works best when there is a lot of liquidity in the markets, namely during the busiest market hours. This is during the overlap of London and NewYork trading sessions.
TrendViper customisation options for MT4
TrendViper indicator is fully customizable and can be successfully used on its own or in any trading system.
TrendViper is first and foremost a technical tool used to improve your trading and enhance your trading experience. Although it will work great out-of-the-box, it is programmed to offer you many additional options and configurations. Below is a screenshot of all the possible settings within the TrendViper. This screenshot also shows the indicator’s default settings. To modify them within MetaTrader4 go to Charts – Indicator List and click on TrendViper.
True enables arrows and activates free BUY/SELL trading signals. False hides arrows and turns off the trading alerts.
Show Moving Averages
True shows the moving averages on the charts. False hides them.
Fast MA Period and Slow MA Period
This is where the crossover settings can be modified to accommodate your trading strategy. By default this is set to 10 and 50. The position of the Fast MA in relation to the Slow MA defines the trend color in the Trend Direction boxes in the display.
Use Auto TFs
True uses automated three upper time frames seen in three boxes in Candle Direction. These can be set to False and customised manually. For example you could set it to display the H1, H4, D1 candle direction across all time frames.
Activating free email and text signals
To activate email or/and text alerts set them to True.
In order for email or text notifications to work you will need to configure the main contact settings within your MetaTrader installation.
TrendViper works well straight out-of-the-box
The great thing about the TrendViper indicator is that it is a fast, very lightweight and well programmed software. It works beautifully. Some indicators take up a lot of processing power and noticeably hinder the performance of MetaTrader. Our indicator can be put on multiple charts and it will still perform very well. This is what our indicator will look like right after installation.
The default settings have been optimized for most types of trading with emphasis on short term trading.
Free TrendViper Histogram supporting indicator
The supporting color coded histogram can be used in conjunction with the main TrendViper indicator. It follows similar programming based on two fast and slow averages just like MACD. The default settings are also 10/50 as in the main indicator. It serves as an additional visual support.
The TrendViper histogram is a completely separate indicator that works entirely on its own. It is included FOR FREE with the TrendViper indicator.
Capture big market moves and trends
This indicator can produce amazing results. As the name suggests the Trend Viper is all about detecting trends by following the analysis of price action. It’s easy to install, easy to run, easy to configure, and very useful in technical analysis. In addition it generates buy/sell signals which can be configured and adopted into any trading system. Because it is a non-repainting indicator and smooths out the price action it lets you capture and follow trends. This is good especially in Forex trading but it can also be used successfully in binary options trading with longer expiry times.
Below is a video of TrendViper in action. This video is about 3 minutes long but shows about 2 hours of trading time on 1 min USDJPY chart, hence the slight choppiness. (Trading on 1 min chart is not recommended, this is for illustration purposes only)
Here is a full list of the features of TrendViper indicator for MetaTrader4:
- Works on all time frames
- Includes innovative display with useful information
- Gives instant insight into upper time frames
- It’s a NON-repainting indicator
- Can be used in forex or binary options
- Helps to recognize and follow trends
- Free BUY / SELL trading signals marked by UP / DOWN arrows
- Can be used on its own or with other indicators for additional support
- Includes sound alerts – may be switched off
- Includes a pop up alerts – may be switched off
- Includes email alerts – may be switched off
- Includes text messaging – may be switched off
- Includes FREE TrendViper histogram – configurable supporting indicator that may also be used on its own
- Settings and BUY/SELL Signals can be configured by user (MAs, alerts, colors, lines, time frames, etc)
- Free installation support!
TrendViper is a technical indicator and a tool for MetaTrader 4, a free trading platform. This is not a get-rich-scheme and we do not guarantee success. The indicator will produce automated buy and sell signals but they should be confirmed manually for better accuracy and risk management. Trading financial markets involves a high degree of risk to your invested capital.
Installation of TrendViper
Installing your professional mt4 indicator is as easy as installing and running any MT4 indicator. Follow these steps to get started in your MetaTrader4:
- Go to File and choose Open Data Folder.
- Copy the downloaded and extracted TrendViper indicators into MQL4 / Indicators folder.
- Close MetaTrader and the Data Folder too. This step is important.
- Reopen the MetaTrader software
- Go to Insert / Indicators / Custom and choose TrendViper and/or TrendViper Histogram
- Your indicator/s will load onto the screen and you’re ready to trade!
In order to move the price action to the left to allow space for the TrendViper display click the following button in your MetaTrader software