Braid Filter Indicator for MetaTrader 4 – Free Download [TradingFinder]

The Braid Filter indicator is a technical analysis tool used for trend analysis and filtering trading signals on the MetaTrader 4 platform.

This indicator operates based on the combination of several moving averages and a dynamic filtering mechanism to accurately identify structural changes in the price trend.

This trading tool, using colored histogram bars and a central (blue) filter line, creates suitable zones for entering buy and sell trades.

Braid Filter Indicator Table

The general features of the Braid Filter indicator are presented in the table below:

Braid Filter Indicator at a Glance

In the histogram of the Braid Filter indicator, there is a blue horizontal line (the filter line) that acts as the boundary for identifying a valid trading zone.

The position of the colored bars relative to this line is the main criterion for entry or exit:

• If green bars (in an uptrend) are above the blue filter line, the market enters a valid trading zone and this can be considered a buy area;
• If red bars (in a downtrend) are below the blue filter line, it confirms continued selling pressure and is suitable for entering a sell position.

Indicator in an Uptrend

The price chart below shows the U.S. Dollar vs. Canadian Dollar (USD/CAD) on the 5-minute timeframe.

In this oscillator, the green histogram bars are increasing in height, indicating the strength of the bullish trend. The stabilization of histogram bars above the blue filter line provides a zone for buy entries.

Indicator in a Downtrend

The price chart below shows the Gold Spot Index (XAU/USD) on the 30-minute timeframe.

The red histogram bars are increasing in height, indicating strengthened selling pressure and the power of the bearish trend.

Once the red histogram bars stabilize above the blue filter line, a sell-entry zone is formed.

Braid Filter Indicator Settings

The image below shows the settings panel of the Braid Filter oscillator:

• MaPeriod1: Period of the first moving average
• MaPeriod2: Period of the second moving average
• MaPeriod3: Period of the third moving average
• AtrPeriod: ATR calculation period
• PipsMinSepPercent: Minimum percentage distance between lines for signal validity
• ModeMA: Type of moving average
• ALERT: Enable sound alert
• EMAIL: Send alert to email
• NOTIFICATION: Send alert to mobile
• MESSAGE TIMEOUT: Time interval between alerts
• MESSAGE SUBJECT: Alert message title

Conclusion

The Braid Filter indicator is a tool for identifying strong trends and filtering out weak signals in the market.

This trading tool, By combining multiple moving averages and a colored histogram (green and red) along with a blue filter line, it accurately specifies entry and exit points.