Hello
what is the best indicator that can be used to determine the trend of a 15 minutes timeframe on mt4. Can anyone help with this and a brief explanation on how to use it?
thanks
I can suggest you breakout indicator on key levels but it doesn't work during sideline (flat) market. You can try it even without any automated software just set pending orders on key levels (still works on majors) and hope your platform is fast enough so SL and TP work correctly. I use Hotforex zero spread account for it but I think any broker with fast and stable platform fits the bill.
Good luck.
I generally use a combination of Moving Average, Bollinger Bands and candlestick analysis on all time frames, including the 15-minute one. The indicators are good for determining the levels of support and resistance and the candlesticks point out when the movement is continuing or reversing.