The picture below shows how BT Trend Signal Indicator works on Metatrader platform.
- The baseline crosses upward the signal line – Bullish Trend;
- The baseline enters the -100 oversold area;
- Bullish divergence: the price is falling and BtTrend indicator is rising. An upward correction of the price is expected.
- The baseline crosses downward the signal line – Bearish Trend;
- The baseline enters the +100 overbought area;
- Bearish divergence: the price is rising and the BtTrend indicator line is falling down. A downward correction of the price is expected.
- File: BtTrendSignal.mq4
- Size: 3 Kb