Trend Magic Indicator

Description

An MT5 forex trading indicator called Trend Magic Indicator is designed to spot market trend reversal points. Its trendline will lead you through dynamic levels of market support and resistance in addition to trend alerts.

For novices who struggle to manually evaluate the market’s daily movement, automatic trendline indicators are perfect. Furthermore, incorrect market trend definitions may result in early or late entry and unanticipated losses. Therefore, selecting a trend indicator that reliably produces accurate trend signals is crucial for a beginner trader.

Trend Magic Indicator creates extremely likely automatic trend signals by attentively observing market dynamics. It is more dependable for novices due to its increased accuracy in trend-based buy/sell generating. It also offers trading of all kinds of stocks and FX and operates on MTF charts.

Using Trend Magic Indicator signals to execute buy-sell orders every day

When it comes to producing trend indications, the Trend Magic Indicator doesn’t repaint or lag. The chart’s trend conditions and price support/resistance levels are defined by a single dynamic trend line.

Trend Magic Indicator determines the direction of the market trend and current locations on the trend line by combining the Average True Range (ATR) and Commodity Channel Index (CCI). To produce buy/sell signals, CCI compares the current price to its historical average.

The ATR, on the other hand, functions as a volatility indicator that aids in determining when to enter and exit transactions. The volatility of commodities goods was first assessed using ATR. Subsequent research revealed that the indicator was just as successful in lowering the market volatility of various financial assets, including stocks, FX, and cryptocurrencies.

A bullish trend condition is indicated when the price moves over the Trend Magic level, which signifies that it is moving above its historical average. Following the reversal of a bullish price trend, the indicator’s color changes to blue, indicating a purchase opportunity. Hold the entry until the indicator becomes red while you are long.
The price is set to remain below the current Trend Magic level during a negative trend. The indicator’s color changes to red, which simultaneously confirms a sell entry based on the market trend’s current bearish stance.

Conclusion

Trend Magic Indicator is one of the greatest trend following trading options for active traders as a no-redraw trend indicator for MT5 platforms. Furthermore, this indicator did not exhibit any indications of trailing in the development of trend signals. It generates trend alerts immediately after any trend reversal situations in the market. Based on our review, we found that the indicator is equally effective for both long-term and short-term trending. Thus, you can easily apply it on the MTF charts of your MetaTrader platform for both scalping and intraday trading.