Mega Trend Indicator for MetaTrader 4 – Free Download [TradingFinder]

The Mega Trend Indicator is a technical analysis tool based on long-term moving averages, designed to distinguish the primary market trends from short-term fluctuations and to identify potential phase shifts in price action.

This indicator provides entry and exit signals through color changes in the trend line.

Mega Trend Indicator Table

The general features of the Mega Trend Indicator are presented in the table below.

Mega Trend Indicator Overview

The Mega Trend Indicator is based on Simple Moving Average (SMA) and Exponential Moving Average (EMA) with predefined periods.

This trading tool displays price behavior and major market phases. The output is shown as a colored line on the chart:

• Blue indicates an uptrend;
• Red indicates a downtrend.

These colors not only represent the trend direction but also act as important entry and exit points.

Indicator in an Uptrend

The chart below shows the CAD/JPY currency pair on a 30-minute timeframe. In this tool, a trade entry condition is met when the Mega Trend line changes color from red to blue.

This change marks the beginning of a significant upward trend. For signal validation, it is recommended that this color change occur near a reliable support zone or after breaking a resistance level.

Indicator in a Downtrend

The chart below displays the Cardano cryptocurrency (ADA/USD) on a 15-minute timeframe. In a downtrend, when the indicator line changes from blue to red, it signals the start of a downward market movement.

If this color change happens near significant technical levels (like support or resistance levels), it may be considered a valid sell signal.

Mega Trend Indicator Settings

The image below displays the settings panel of the Mega Trend Indicator:

• Period: Moving average period
• Ma Method: Second moving average method
• Applied Price: Price base
• ALERT: Display Alert
• EMAIL: Email delivery
• NOTIFICATION: Mobile notification
• MESSAGE TIMEOUT: Delay between messages
• MESSAGE SUBJECT: Message subject.

Conclusion

The Mega Trend Indicator, which utilizes long-term moving averages, signals trend changes by transitioning line colors on the chart.  A color change from red to blue marks the beginning of an uptrend and a suitable zone for buy entries, while a change from blue to red signals the start of a downtrend, indicating a potential sell opportunity.