Trendanator Indicator MT4
Platform: MT4 Type: Trend Last update: May 12, 2024The Trendanator Indicator for MT4 is designed to help users identify trading signals that align with the current market trend as accurately as possible and it’s available to free download. It utilizes Trendanator Bars as the primary detector of market trend and Trendanator Bands to refine the trade signals for its users.
Sounds interesting? Let’s take a closer look at it and bring some practical trading examples.
Introducing the Trendanator Indicator
MT4 Indicator Overview
The download link of the Trendanator MT4 indicator is placed at the bottom of this post. Once you’re done, your trading chart should look similar to the example below.
At the first glance, it looks like a MACD indicator with some bands added.
When the Trendanator Bars turn white and have a positive value, this indicates a bullish trend. To confirm a buy entry, the Trendanator Bands should also be moving above the zero level.
Conversely, a red Trendanator Bar that drops below the zero level signals a sell entry. While the gauge can be used on its own, it can also be combined with other technical indicators for even better results.
Settings
There are several variables you can customize to fit your preferences or your trading strategy.
How To Trade With The Trendanator Indicator?
Generally speaking, the signal trigger depends on its values being above or below the 0 level. Let’s deep dive into how to exactly use that forex indicator in a few easy steps.
Trendanator: Buy Signal
- Trendanator bars turn white
- Any of the Trendanator Bands rises above the zero level
- Open long trade when the above conditions are met
- Set stop loss a few pips below the most recent market’s low point
- Take profit when Trendanator bars turn red
Trendanator: Sell Signal
- Trendanator bars turn red
- Any of the Trendanator Bands drops below the zero level
- Open short trade when the above conditions are met
- Set stop loss a few pips above the most recent market’s high point
- Take profit when Trendanator bars turn white
Conclusion
The Trendanator is an interesting forex indicator that works with all kinds of currency pairs and time frames. What’s more, its signals are friendly-enough to be utilized both by beginners and advanced forex traders. We find it an alluring MACD alternative providing reliable signals. Obviously, your success also depends on ongoing market conditions and proper money management.
