Introduction to the Brain Trend Signal Alerts Indicator
Short-term momentum reversal signals can be very reliable reversal signal indicators. This is because short-term momentum signals tend to have lesser lag compared to long-term trend reversal signal indicators. The Brain Trend Signal Alerts Indicator is a reversal signal indicator which uses momentum to identify potential reversals.
What is the Brain Trend Signal Alerts Indicator?
The Brain Trend Signal Alerts Indicator is a momentum-based signal indicator which helps traders identify the direction of the momentum, as well as its potential momentum reversals.
The Brain Trend Signal Alerts Indicator plots arrows to indicate the direction of the momentum. It plots blue arrows pointing up below price action whenever it detects a bullish momentum reversal. It also plots red arrows pointing down above price action whenever it detects a bearish momentum reversal.
Aside from the signal arrows, the Brain Trend Signal Alerts Indicator also shows an information board on the upper left corner of the chart. There it shows the account information which includes the broker, account name, account number, balance, equity, and leverage. It also shows the spread in points, starting price of the momentum reversal, the number of candles prior to the current candle where the momentum started, indicator signal, and trade suggestion.
How the Brain Trend Signal Alerts Indicator Works?
The Brain Trend Signal Alerts Indicator has a complex algorithm which detects momentum direction and reversals. It assesses price movements in relation to the Average True Range (ATR) to detect the momentum direction. The indicator then plots the signal arrows and changes its trade suggestions on the info board based on the momentum reversals detected by its algorithm.
How to use the Brain Trend Signal Alerts Indicator for MT4
The Brain Trend Signal Alerts Indicator has a few options within its indicator settings which users can change.
“Bars Calculation” refers to the number of historical bars which the indicator would calculate and detect for historical momentum reversals.
“Display Alerts / Messages” toggles the alerts and messages related to its trade signals on or off.
“Email Alerts” toggles the Email push notifications related to the alerts and messages on and off.
“Display Trade Info” toggles the display of the information board on or off.
Buy Trade Signal
Open a buy order as soon as the Brain Trend Signal Alerts Indicator plots a blue arrow pointing up and displays a “Bullish” Indicator Signal and an “Open BUY Order” trade suggestion on the information board.
Sell Trade Signal
Open a buy order as soon as the Brain Trend Signal Alerts Indicator plots a red arrow pointing down and displays a “Bearish” Indicator Signal and an “Open SELL Order” trade suggestion on the information board.
Conclusion
The example shown above shows the current trade direction based on the latest trade suggestion and indicator signal, which is why the trade exits are not shown. However, if you would visually observe the historical trade signals, this indicator does produce high probability momentum reversal signals. Although its trade signals seem reliable, it is still best to use this indicator in confluence with other technical indications.
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