Trend Manager Indicator
Trend Manager is the best MT5 indicator to determine the long-term direction of an aggressive/bearish trend.
Description
The Trend Manager indicator for MetaTrader 5 (MT5) is a technical analysis tool that detects long-term trading opportunities in the Forex market. This is one of the most reliable trend reversal tools that determines the potential long-term price direction of a financial instrument.
Thus, the indicator will help day/intraday and swing traders to identify and take advantage of the long-term directional movement of the instrument.
In other words, this is an essential indicator for daily/intraday use that swing traders should have as each trend reversal signal has the potential to generate many pips in that direction.
How to Use the Trend Manager Indicator
The attached screenshot shows how the Trend Manager indicator shows the trend direction of the EUR/USD currency. Blue bars indicate long-term bullish movement, while pink bars indicate long-term bearish movement.
Therefore, the indicator will draw the first blue bar at the top of the candle, signaling the start of a potential long-term bullish move. On the other hand, it draws the first pink bar at the bottom of the candle, indicating the start of a potential bearish move. Additionally, as the trend progresses, it continues to display blue/pink stripes.
However, the Trend Manager indicator is recommended to be used in conjunction with price action, such as a bullish/bearish engulfing candlestick pattern, for optimal trade entry zones. You can refer to the above image for better understanding.
Conclusion
The Trend Manager Indicator for MT5 is a technical trend analysis tool that signals the start of a long-term directional drift in an instrument.