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The Trend Manager Open is a trading indicator designed to identify the current trend and its strength, and thus, search for optimal points for entering the market.
The indicator is very effective in practice, despite the simplicity and logic of use. It is displayed in the lower window of the price chart as a solid a line that, upon receiving certain market conditions, changes its color and direction. In addition to the main line, there are two signal lines in the indicator window, one of which has a growth value, and the second - a fall. Crossing each other in a certain order, these lines allow determining the strength of the current trend. The indicator is suitable for use on any convenient timeframe, using any currency pairs.
Input parameters
There are five input parameters in the settings of the Trend Manager Open indicator. It should be taken into account that changing any of them will affect the systematic operation of the indicator. Also, at own discretion, the color gamut and width of its values can be changed in the indicator settings, and additional alarms have been added to the indicator window. levels.
- TM Period 1 - period of the main line of the indicator. The default value is 7.
- TM Shift 1 - deviation of the values of the main line of the indicator. The default value is 2.
- TM Period 2 - period of the signal lines of the indicator. The default value is 13.
- TM Shift 2 - deviation parameter of the values of the signal lines of the indicator. The default value is 1.
- Horizontal shift of the indicator in bars - horizontal deviation of the indicator in bars. Default value is 0.
Indicator signals
To open certain positions using the Trend Manager Open indicator, it should be taken into account the direction, color and intersection of its lines. And already taking into account all these conditions, the indicator determines the current trend, and only then the direction of a possible trade. In order to determine the trend, it is needed to take into account the direction of the line, that is, if the line moves up and at the same time is colored with a growth value, then the trend is up, and if vice versa, then it is down. Then its strength should be determined, since trades made during a strong trend are more profitable. If during the ascending signal line with the growth value turned out to be higher than the line with the fall value, the current uptrend is strong, the conditions are opposite for the downtrend. And only then, if such conditions coincide on the current candle, then a trade can be opened.
Signal for Buy trades:
- The main line of the indicator moves from bottom to top, while having a color with a growth value. This indicates the beginning of an uptrend.
- The signal lines of the indicator crossed so that the line with the value of the increase was higher than the line with the value of the fall. Thus, the strength of the uptrend is determined.
After receiving such conditions, a long position can be opened on a certain candle. It should be closed after the uptrend weakens, that is, the signal lines of the indicator cross in the opposite direction. This will mean the end of the uptrend and the beginning of the downtrend, which opens up the possibility of opening new trades.
Signal for Sell trades:
- An uptrend is determined on the market, that is, the main line of the indicator starts moving down, while turning into a color with a fall value.
- Its signal lines intersect so that the line with the value of the fall is higher than the one with the value of the growth.
After the formation of such conditions on the current candle, a sell trade can be opened, which should be closed when the signal lines cross back, that is, when the current uptrend weakens. In this case, it should be ready to open new trades.
Conclusion
Trend Manager Open is a very effective indicator that allows not only getting a good profit from the trade, but also facilitating trading conditions. And in order to be completely sure of the correct moment to enter the market, it is recommended to use the indicator with additional indicators or expert advisors. Also to get good trading skills using this indicator, the use of a demo account is recommended.
