The Forex Trendy indicator for Metatrader 5 is a popular trading tool that provides accurate trend and trend continuation signals to currency traders.
Using an intelligent trading formula, this indicator thoroughly analyzes trends and offers reliable recommendations for buying and selling trades.
When applied to a price chart, the Forex Trendy indicator displays buy and sell arrows in distinct green and magenta colors.
Additional arrows help traders identify optimal entry points for trades in trending markets.
To facilitate buy/sell trade entries using the Forex Trendy indicator, adhere to the following guidelines:
- A green colored arrow is a buy signal.
- A magenta colored arrow is a sell signal.
Forex Trendy offers various customizable inputs and parameters, including the indicator period and arrow colors.
We strongly recommend familiarizing yourself with this technical indicator and conducting extensive testing on a demo account over an extended period.
The Forex Trendy indicator is capable of serving as a standalone signal tool, eliminating the need for additional trading tools.
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Chart Example EURUSD H1
The picture below illustrates what the Forex Trendy indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Forex Trendy Indicator?
Find a simple trading example below:
Buy Signal
- The green colored arrow is a buy signal.
- Open a buy market order and place a stop order below support.
- Exit the buy trade for a fixed profit target of your preference, or await a sell arrow to close the buy trade.
Sell Signal
- The magenta colored arrow is a sell signal.
- Open a sell market order and place a stop order above resistance.
- Exit the sell trade for a fixed profit target of your preference, or await a buy arrow to close the buy trade.
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Trading Strategy Using Forex Trendy Indicator and Demand and Supply Forex Block Indicator
Overview
This strategy leverages trend confirmation from the Forex Trendy Indicator and high-probability reversal zones from the Demand and Supply Forex Block Indicator.
Together, they help traders identify precise entry points aligned with the prevailing trend or at key turning zones.
Timeframe
Works best on the 30-minute (M30), 1-hour (H1), and 4-hour (H4) charts.
Indicators Used
- Forex Trendy Indicator – for identifying the current market trend direction.
- Demand and Supply Forex Block Indicator – to highlight key demand (support) and supply (resistance) zones.
Buy Entry Rules
- The Forex Trendy Indicator shows a clear uptrend (bullish direction).
- Price retraces into a demand zone highlighted by the Supply and Demand Block Indicator.
- Wait for a bullish candlestick pattern (e.g., bullish engulfing or pin bar) inside the demand zone.
- Enter a buy trade after confirmation.
- Set stop-loss just below the demand zone.
- Take profit at the next supply zone or use a trailing stop to maximize gains.
Sell Entry Rules
- The Forex Trendy Indicator shows a clear downtrend (bearish direction).
- Price pulls back into a supply zone shown by the Supply and Demand Block Indicator.
- Wait for a bearish confirmation candle inside the supply zone.
- Enter a sell trade.
- Set stop-loss just above the supply zone.
- Target the next demand zone or use a trailing stop approach.
Tips for Best Results
- Use this strategy during active trading hours (London and New York sessions).
- Avoid trading against the dominant trend shown by the Forex Trendy Indicator.
- Use multiple time frame analyses to confirm the strength of demand or supply zones.
Conclusion
This combination strategy is ideal for traders who want to follow the trend while entering at high-probability reversal zones.
The Forex Trendy Indicator helps you stay on the right side of the market, while the Demand and Supply Forex Block Indicator provides accurate entry levels based on institutional order flow.
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the stream.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
