The Trend Is Your Friend! DEMO

The Trend Is Your Friend DEMO
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Trading following the current trend is one of the most successful ways in terms of probability. The hard part of it is to recognize when the market is trending or not.

That’s the role of our indicator we called The Trend Is Your Friend Until It Is Not. Apart from its big name it is really easy to use and see when the market is trending or ranging. Through a little window of 3 colors you will identify if the
market is currently trending Up, Down, or ranging (sideways).
Developer
Minions Labs
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One of the most famous phrases in the trading world is “The Trend Is Your Friend”.

Trading following the current trend is one of the most successful ways in terms of probability. The hard part of it is to recognize when the market is trending or not.

That’s the role of our indicator we called The Trend Is Your Friend Until It Is Not. Apart from its big name it is really easy to use and see when the market is trending or ranging. Through a little window of 3 colors you will identify if the market is currently trending Up, Down, or ranging (sideways).
We at Minions Labs developed this minion to act as a filtering system for scalping Expert Advisors for the intraday trading, but several traders from our circle liked the idea of having a Confirmation Tool of the current trend.

We don’t recommend to use it as a triggering indicator because it has lag. Its inner workings are based purely on Price Action/Candle Analysis and it is so easy to use that it has only one parameter setting: the timeframe of the analysis, so you can add several instances of it into your chart to monitor and see what is the trend in higher timeframes!

If you are a discretionary trader or a robot builder, this minion is a must-have in your toolbox. Give it a try and see for yourself.

HOW TO “READ” THIS INDICATOR

  • GREEN color: UPTREND.
  • RED color: DOWNTREND.
  • GRAY color: SIDEWAYS.
  • Does this indicator repaint? No, when used in real-time mode, i.e. Live Trading. When the indicator is applied to past bars (i.e., reopening MT5) the bars are repainted to show the last status of each bar based on their last OHLC data, which could be slightly different from the Live market data but really it doesn’t matter so much since our recommendation is to NOT use this indicator as a Trigger and instead, use it as a Confirmation tool.
  • Obviously that are thousands of assets around the globe to trade, so if it fits, you can use it as a Trigger indicator if your backtests confirm this ability. Example given: Scalping in intraday trading.

SETTINGS

  • Timeframe to analyze
  • Size of the indicator window (in pixels)

After experimenting with this DEMO version, you can find the FULL VERSION here: The Trend Is Your Friend, Until It Is NOT!

Buffers to use on your EA:

  • #1 – Color buffer:
    • 0 = Ranging (sideways) market.
    • 1 = Uptrending market.
    • 2 = Downtrending market.

Didn’t Find a Feature You Need?

No product is perfect for everyone. If you think you need a missing feature from our product just send us a message. We love feedback!

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Additional information

Computer Type

64-bits
Platform

Metatrader 5

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