Trendanator Indicator has been developed to identify the trade signals within the direction of the current market trend as correctly as possible for its users. It applies Trendanator Bars for the primary signal of the market trend and Trendanator Bands in order to rectify the trade signals for its users. So far, the indicator looks very simple and easy to read, particularly suitable for the newbie traders.
Trendanator Indicator can be applied to trade any kinds of forex currency pair around the market. Furthermore, this indicator fits with all sorts of timeframe charts within the MT4 trading platforms.
Trendanator Indicator Overview
Once you’re done with the installation of the Indicator at your MT4 terminal, your chart will appear like the following image
Trendanator Indicator Anatomy
Trendanator Indicator offers a dual signaling system for signaling the market trends and the trades as well. Trendanator Bars turn blue and positive in value signals for the bullish trend. At the same time, the Trendanator Bands should also be moving above the zero levels which are considered as the confirmation for the buy entry along with the bullish trend. On the other hand, for sell entry, Trendanator Bars should be turned into red and drop below the zero levels at the same time. Although, the indicator is a stand-alone indicator, however, you may add other trend-following indicators with it for greater results.
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Trendanator: Buy Parameters
- Trendanator Bars turn blue and positive in value
- Any of the Trendanator Bands turns above the zero level
- Buy triggers when both of the above conditions are met at the same time
- Set stop loss below the nearest swing low of the market
- Exit long/take profit whenever the Trendanator Bars turn red
Trendanator: Sell Parameters
- Trendanator Bars turn red and negative in value
- Any of the Trendanator Bands turns below the zero level
- Sell triggers when both of the above conditions are met at the same time
- Set stop loss above the nearest swing high of the market
- Exit short/take profit whenever the Trendanator Bars turn blue