Trend Magic Indicator
Trend magic offers the best trend-following trading solution for beginners. Determines trend conditions and generates daily buy-sell alerts on MT4 charts
CATEGORIES: TREND, MT4, SIGNAL
Updated on: 26.10.2023
Trend Magic is an MT4 forex trading indicator used to identify the trend-reversal moments of the market. Besides trend alerts, its trendline guides you through the dynamic support/resistance levels of the market.
Automatic trendline indicators are ideally fit for beginners who find it hard to assess the daily market trend manually. Besides, failing to determine the market trend correctly may lead to early or late entry resulting in unexpected losses. So, as a newbie trader, it is important to choose a trend indicator that consistently generates correct trend signals.
Trend Magic closely monitors the market momentum and generates highly probable automatic trend signals. Its higher accuracy in generating trend-based buy-sell signals makes it more reliable to beginners. Besides, it works on MTF charts and supports trading all types of forex and stock items.
How to use Trend Magic signals for executing daily buy-sell orders
Trend Magic is a non-repaint indicator and doesn’t lag in generating the trend signals. It applies a single dynamic trendline across the chart that determines both trend conditions and the S/R levels of the price.
This indicator combines Commodity Channel Index (CCI) and Average True Range (ATR) for determining the market trend direction and current trendline positions. The CCI compares the current price with its historic average for generating buy-sell signals.
On the other hand, the ATR works as a volatility indicator that helps you to assess the entry and exit period of your trades. Initially, ATR was used to determine the volatility of commodity items. Later, it was proved that the indicator is equally effective in messing the market volatility of other instruments like forex, stocks, and cryptocurrencies.
The price moves above the Trend Magic level means the price is moving higher than its historic average and indicating a bullish trend condition. The indicator color turns blue means it is a buying opportunity following the bullish trend-reversal condition of the price. While you’re on a long order, hold your entry until the indicator turns red.
In a bearish trend condition, you’ll find the price intending to stay lower than the current Trend Magic level. The indicator color turns red at the same time means confirmation for a sell entry based on the current bearish condition of the market trend.
Conclusion
As a non-repaint trend indicator for MT4 platforms, Trend Magic offers one of the best trend-following trading solutions for active traders. Besides, this indicator hasn’t shown any sign of lagging issues in producing trend signals. It generates trend alerts immediately following any trend-reversal situations in the market. Based on our review, we’ve found the indicator equally effective for both long-term and short-term trend analysis. So, you can easily apply it on the MTF charts of your MetaTrader platform for both scalping and intraday trading purposes.
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