What is the Sideway Trend Indicator for MT4?

The Sideway trend indicator is a momentum indicator that shows whether the price of a currency is trending up or down. When the hand is in the up position, it means that the cost of the money is trending higher, and when it’s in the down position, it means that the money is trending lower. The indicator’s up-down movement can help traders determine whether to hold or sell their jobs in a given market.

Sideway Trend Indicator

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How to use the Sideway Trend Indicator for MT4?

The Sideway trend indicator helps identify short-term changes in an asset’s price and can help traders determine if they should buy or sell an asset. However, it does not provide accurate long-term predictions and should not be used for this purpose.

Sideway Trend Indicator MT4 trading settings

Setting up your forex sideway trend indicator involves choosing a suitable time frame and setting up plots for each currency you want to monitor. You can start with daily charts for major currencies and add weekly or monthly charts as necessary. You will also need to decide how frequently you want to update your plots and set up alerts if desired. Once set up, you can use your forex sideway trend indicator to help you make informed decisions about trading currencies.

Sideway Trend Indicator Advantages

The advantages of using the forex Sideway trend indicator are that it provides reliable signals about long-term trends in the exchange rate, which can help traders make informed decisions about whether to invest in currencies. It also helps them identify opportunities to trade with favorable odds and generate profits.

Another advantage of using this indicator is that it can help spot short-term fluctuations in the price of currencies by giving traders an early warning signal when they should take profit or enter new positions.

Sideway Trend Indicator Disadvantages

However, there are several disadvantages to using a forex sideway trend indicator. One major disadvantage is its susceptibility to manipulation by traders and market makers, which can produce false signals and yield poor results for investors. Another disadvantage is that the STI relies on historical data, which can be challenging to obtain and result in false signals if current market conditions differ from those experienced in previous periods.

ST Indicator installation on MT4

A few different indicators can be used to identify sideways trends in MT4. Here are the steps to install one such indicator, the Sideways Trend Indicator:

  1. Download the Sideways Trend Indicator file (.mq4) to your computer.
  2. Open the MT4 platform and click on “File” in the top left corner of the screen.
  3. Click on “Open Data Folder” in the drop-down menu.
  4. Open the “MQL4” folder in the data folder and then the “Indicators” folder.
  5. Copy the Sideways Trend Indicator file into the “Indicators” folder.
  6. Close and re-open the MT4 platform.
  7. Open a price chart for the currency pair you want to analyze.
  8. Click “Insert” in the top menu bar and then “Indicators.”
  9. In the “Custom Indicators” folder, select “Sideways Trend Indicator” and drag it onto the price chart.
  10. Configure the indicator settings if desired and click “OK” to apply it to the chart.

The Sideways Trend Indicator should now be visible on the chart and ready for use in identifying sideways trends.

Sideway Trend Indicator mt4

Sideway Trend Indicator mt4 free download


In this article, we have introduced the Sideways Trend Indicator, an MT4 indicator designed to identify sideways trends in currency prices. This indicator relies on historical data to generate signals but should be used with caution due to its susceptibility to manipulation by traders and market makers. Thanks for reading!

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Telegram Channel | Quora | Reddit

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