Trend Master Indicator
MT5Also Available for MT4Trend Master indicator for MT5 tells you the general direction of the trend. It can give you a clear picture of trend following.
Description
The Trend Master indicator is a simple MT5 indicator based on the current trend. It tells you the general direction of the price trend by indicating arrows on the chart.
Arrows come in two forms; blue and red The red arrow indicates that the current trend is downward. Thus, this is a bearish signal.
On the other hand, the blue arrow shows that the current trend is moving upward. So this is a bullish signal.
Whenever the trend changes direction, the Trend Master indicator will alert you by drawing a blue or red arrow. This way, whenever the trend changes direction, you have the opportunity to trade accordingly.
How to trade the Trend Master Indicator?
As mentioned above, the trend master is one of the simplest indicators you can follow. You won’t be bothered by complicated lines or graphs. Instead, it simply indicates the direction of the trend by showing blue and red arrows.
This will help you reduce market noise, eliminating the need to go back and forth looking for the direction of the trend.
Once you learn the basics of the indicator, you won’t have much trouble learning indicator-based strategies.
Let’s find out the buying and selling strategy of the Trend Master indicator:
Trend Master buying strategy
- Set RISK to default and wait for the blue arrow to appear.
- When the blue arrow appears, wait for the trend to continue.
- Take a long trade on the candle where the blue arrow appears, or enter on the next candle for a conservative approach.
- Place your stop loss below the recent swing low.
- Mark take profit at the next resistance.
Trend Master sell strategy
- Set RISK to default and wait for the red arrow to appear.
- When the red arrow appears, wait for the trend to continue its movement.
- Open a short trade on the candle where the red arrow appears, or enter on the next candle with a conservative approach.
- Place a stop loss above the recent high.
- Mark take profit at the next support.
Conclusion
The advantage of the Trend Master indicator is that it can be tried on any timeframe. It can give you a clear picture of trend following. Since there is no Holy Grail system, there is a possibility of loss in the indicator.
You can also combine the indicator with confirmation indicators such as moving averages or RSI to further confirm the trend. With a more conservative approach, you can only trade when the blue arrow is already present.
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