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Market Analysis

Forex Indicator

FX Indicator - Hydra Trend Rider

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Indicator Details

Settings contain two options:

1. Mobile Push Message: Yes or No (Default)

2. Change Indicator Size:
  •    Default (SD)
  •    125% (HD)
  •    150% (Full HD)
  •    200% (4K)

Seamlessly blending trend-following and trend-reversal strategies for unparalleled versatility.

Line Color Definition

Red: Indicates a Bearish Signal

Green: Signals a Bullish Market

Gray: Suggests a No Entry Zone / Correction Area

Important: In an uptrend or downtrend, the market often corrects itself near the gray line, which serves as a support or resistance level. The further the candlesticks or bars form from the hydra trend line, the more momentum the trend possesses.

Multiple Timeframe Strategy

Make an entry on the lower timeframe (example  M15), when the hydra line is green or red if a higher timeframe (example M30 and H1) shows the SAME COLOR as the lower timeframe.

The entry timeframe & and at least 2 higher timeframes must be the same color for STRONGER trend confirmation.

While riding a trend, if a lower timeframe (for example: M5) goes BLUE, But at least two of the higher timeframes (for example: M15, M30) show green, don’t exit the market yet. Trail your Stop Loss.

Trend Following

Ride the trend by identifying higher highs and higher lows during a robust uptrend or lower lows and lower highs in a strong downtrend.

Trail Position

Trail positions during strong trends, ensuring a sustained rise in higher highs or lower lows.

How to Spot a Good Signal?

Green Signal: Look for long, up candles with higher highs and higher lows or breakthroughs of previous highs for a strong uptrend.
Red Signal: Seek long, down candles with lower lows and lower highs or breakthroughs of previous lows for a compelling downtrend.

How to Enter a Trade After Correction? 

After a gray signal if a green one appears, wait for a green signal with higher high bars for re-entry into an uptrend. Apply the same principle for downtrend correction.

Merging with Other Indicators

For enhanced trend confirmation, observe market price action and consider combining our indicator with others in your toolkit.

To get mobile alerts from Metatrader Desktop:

Choose Tools -> Options from the Menu.

Click on the Notification Tab. Turn on Push notification. Enter your Metaquotes ID (You can see this ID in your mobile Metatrader app settings) and then press Test.

How to Do a Visual Backtest with Our Indicator:

Step 1: Download the entire history center database first. Press the shortcut key F2 to access the History Center.

Step 2: Click on the download button.

Step 3: After the download completes, close, and restart the MetaTrader.

Possible Issues with Backtesting:

Problem 1:

You see a message that says “Waiting for update” on the chart while backtesting.

Solution:

This means that you don’t have enough data or a poor internet connection. To avoid this, make sure you download the full History Center data as explained above.

Problem 2:

Metatrader freezes during backtest.

Solution:
This also happens because of insufficient data or a bad internet connection. Fix the internet connection before starting and follow the steps again.
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