Trendy Pro is recognized as a standalone trend following forex trading indicator around the market. This is because this indicator alone can signal both the trend and the trade entries at the same time. Furthermore, it also signals the neutral status of the trend which is interpreted as the ‘no trade’ conditions of the market.
Trendy Pro can be applied to trade any forex currency pair around the financial markets. Moreover, this indicator fits great with all sorts of timeframe charts available at the forex MT4 platforms.
Trendy Pro Overview
After the installation of the indicator at the MT4 terminal, your chart will appear like the following image:
Trendy Pro Anatomy
Trendy Pro mostly works as like as the Moving Averages. Price closing above or below its level is considered as the primary indication of the trend. The final signal comes through the change of colors. It turns blue to signal the buy entry with the confirmation of the bullish trend and in the opposite way, it turns red means it is time to go short with the validity of the bearish trend. It is yellow when there is no valid trend existing at the market and it is the time when you should avoid trading and wait until the indicator confirms a definite direction of the trend.
Also Read: CAP Channel Indicator
Trendy Pro: Buy Parameters
- Trendy Pro turns blue
- A bullish candle is plotted right above the indicator slope
- Buy triggers at the break of the respective bullish bar’s high
- Set stop loss below the indicator level
- Exit long/take profit whenever this indicator turns red
Trendy Pro: Sell Parameters
- Trendy Pro turns red
- A bearish candle is plotted right below the indicator slope
- Sell triggers at the break of the respective bearish bar’s low
- Set stop loss above the indicator level
- Exit short/take profit whenever this indicator turns blue