Trend Magic Indicator MT4 is one of the most effective and very best Forex trend indicator among other trend following technical indicators. Two things have bought such popularity to this amazing indicator. First, its simplicity of use and secondly, its steady Forex trade signaling performance over a proven period of time.
Trend Magic Indicator suits with all sort of currency pairs around the market and it also fits with any kind of timeframe charts at metatrader trading software. Because of its easier signal reading, newcomers can have a vast level of benefits who love to trade following the trend.
Trend Magic Indicator Overview
Once you are done with the installation of Trend Magic Indicator at your mt4 platform, your trading chart should be appeared as the following image:
Trend Magic Indicator is a combination of Commodity Channel Index (CCI) and Average True Range (ATR). That is how it plots the trend signals and identifies the possible market entry areas within the trend. Trend Magic Indicator turns blue with price closing above its level confirms the buy time along with the bullish trend. On the other hand, it turns red with price closing below its level signals the sell entry with valid bearish thrust in background. Because of such simple and clear display of trade signals it is very much suitable and easier to master by newbie Forex traders.
Similar Trend Following Indicator: Forex HMA Trend Indicator
Trend Magic Indicator: Buy Parameters
- Price action plots a bullish signaling bar
- Price bar closes above the level of Trend Magic Indicator
- Trend Magic Indicator turns blue
- Set stop loss below the low of respective signaling bar or below the level of Trend Magic Indicator
- Exit long whenever Trend Magic Indicator turns red with price closing below of its level
Trend Magic Indicator: Sell Parameters
- Price action plots a bearish signaling bar
- Price bar closes below the level of Trend Magic Indicator
- Trend Magic Indicator turns red
- Set stop loss above the high of respective signaling bar or above the level of Trend Magic Indicator
- Exit short whenever Trend Magic Indicator turns blue with price closing above of its level