Sideway Trend Indicator for MetaTrader 4 - Free - [TradingFinder]

The Sideway Trend Indicator is one of the key tools in MetaTrader 4 that helps traders identify trendless (range or neutral) periods.

As soon as the market exits the range state, this indicator provides specific trading signals for entry, allowing traders to enter the market under appropriate conditions with greater precision.

Sideway Trend Indicator Specifications

The table below is dedicated to reviewing the features and capabilities of this indicator:

Indicator in Uptrend

When the indicator line exits the neutral zone and moves upwards, its color changes to blue, indicating the start of an uptrend.

This signal demonstrates increased buying pressure in the market and suggests a potential price rise. Traders can use this opportunity to enter the market in the uptrend.

Indicator in Downtrend

Once the indicator line exits the green zone (neutral zone), it changes to red, indicating the start of a downtrend.

This state reflects increased selling pressure in the market, enabling traders to take advantage of selling opportunities (Sell) and profit from falling prices.

Sideway Trend Indicator Settings

The image below shows the indicator settings:

• Chart Theme: Indicator background image;
• RSI Period: The calculation period of the indicator; the default value is 20;
• Signal Level: Customizable level on the chart; the default value is 0.38;
• Neutral Level: Displays the neutral zone; the default value is 0.05.

Conclusion

The "Sideway Trend" Indicator not only provides entry signals for trades but also identifies neutral zones in green, highlighting market periods without a clear trend.

This feature helps traders avoid entering trades under unfavorable conditions.