Brain Trend Indicator for MT4 Download – Free – [TradingFinder]

The Brain Trend indicator is used to identify potential support and resistance zones, as well as detect breakouts and trend reversals. Based on recent market swing highs and lows, the indicator marks the mentioned levels on the chart using blue and red dots.

Brain Trend Indicator Specifications Table

The following table outlines the specifications of the Brain Trend Indicator.

Brain Trend Indicator at a Glance

The Brain Trend Indicator, using an advanced algorithm, displays shifts in market sentiment. It also assesses price changes relative to the Average True Range (ATR) to determine the direction of price movement.

Bullish Trend Conditions

According to the 1-hour price chart of the AUD/USD currency pair, the Brain Trend indicator displays a support zone using a blue dot. As illustrated, the marked area effectively served as a support level, and the price moved upward after it was touched.

Bearish Trend Conditions

Based on the 1-minute chart of the Bitcoin (BTC) cryptocurrency, the Brain Trend indicator displays resistance levels using red dots. As shown in the image below, the price accurately reached the marked zone by the indicator and then moved downward.

Brain Trend Indicator Settings

The configuration settings of the Brain Trend Indicator are described below:

• Lookback: Number of previous candles used in indicator calculations
• Alerts ON: Enables alert functionality

Conclusion

The Brain Trend Indicator is a simple yet powerful technical analysis tool that facilitates the identification of support and resistance points, making it easier to spot entry and exit opportunities in the market.

By tracking recent price fluctuations and recognizing key highs and lows, this tool helps identify critical reversal or breakout zones.