IVT Trend scanner Indicator For MT4

The IVT Trend scanner indicator follows the forex trend and draws red and green signal candlesticks on the charts.

Green for a bullish trend and red for a bearish trend.

Interpretation

Lime colored candlesticks: strong uptrend, green-colored candlesticks: weak uptrend, red-colored candlesticks: strong downtrend, maroon-colored candlesticks: weak downward trend.

Forex Signals

Buy: Lime candlestick

Sell: Red candlestick

Trading Tip

Always trade in agreement with the overall trend.

For example, first, define the trend on the higher time frame with a moving average then use the lower time frame to enter the trade with the IVT trend scanner indicator.

Examples

Trend up on the 15 min chart ==> Lime colored bullish candlestick on the 5 min chart ==> Go long.
Trend up down on the 5 min chart ==> Red-colored bearish candlestick on the 1 min chart ==> Go short.