Braid Filter Indicator for MetaTrader 4 – Free Download [TradingFinder]

The Braided Filter Indicator is a tool used by technical analysis for trend analysis and filtering trading signals on the MetaTrader 4 platform.

This indicator operates a dynamic filtering mechanism of moving averages based on a combination of multiple indicators to accurately identify structural changes in price trends.

This trading tool uses colored histogram bars and a central (blue) filter line to create suitable zones for entering buy and sell trades.

Braided Filter Instructions

The general characteristics of woven filter indicators are shown in the following table:

Braided filter indicator at a glance

In the histogram of the Braided Filter indicator, there is a blue horizontal line (filter line) that serves as a border for identifying valid trading areas.

The position of the colored bar relative to this line is the main criterion for entry or exit:

• If the green bar (in an uptrend) is above the blue filter line, the market enters a valid trading zone, which can be considered a buy zone;
• If the red bar (in a downtrend) is below the blue filter line, continued selling pressure is confirmed and it is appropriate to enter a sell position.

Indicators are in an upward trend

The price chart below shows USD/CAD (USD/CAD) on a 5-minute time frame.

In this oscillator, the green histogram bars are increasing in height, indicating the strength of the bullish trend. The stability of the histogram bars above the blue filter line provides an area for buy entries.

Indicators are in a downward trend

The price chart below shows the Gold Spot Index (XAU/USD) on a 30-minute time frame.

The increasing height of the red histogram indicates increasing selling pressure and the strength of the bearish trend.

Once the red histogram stabilizes above the blue filter line, a sell entry area is formed.

Weave filter indicator settings

The image below shows the settings panel for the Braided Filter Oscillator:

• MaPeriod1 : The period of the first moving average
• MaPeriod2 : The period of the second moving average
• MaPeriod3 : The period of the third moving average
• AtrPeriod : ATR calculation period
• PipsMinSepPercent: Minimum percentage distance between lines for signal validity
• ModeMA: Type of moving average
• ALERT : Enable audible alerts
• EMAIL : Send alert to email
• NOTIFICATION : Send alerts to mobile phones
• MESSAGE TIMEOUT : Time interval between alerts
• MESSAGE SUBJECT : Alert message title

Conclusion

The Braided Filter indicator is a tool for identifying strong trends in the market and filtering out weak signals.

This trading tool , by combining multiple moving averages with colored histograms (green and red) and blue filter lines, allows you to accurately specify entry and exit points.