This indicator does exactly what its name is telling you. It shows where the trend begins, where it ends and where there is no trend at all. It's based on standard MetaTrader ADX (Average Direction Movement Index) indicators and works quite fast. Trend Indicators displays itself in the main chart window. Available for MetaTrader 4 and MetaTrader 5 platforms.
- period (default = 5) — period of the ADX indicator.
You should be warned that this indicator redraws the current bar. So, it's not very wise to enter a position based on the signal of the current bar. Previous bars aren't redrawn and can be used as safe entry signals. Although Trend Indicators is quite accurate there are many false signals. But they shouldn't be a real problem since a stop-loss level can minimize losses. You should also exit positions if the trend is over.