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TrendSnake

The TrendSnake indicator is designed to detect the market trend, generate sell and buy signals, and also to determine the Stop Loss levels and market exit points.

When a new sell (or buy) signal appears, the indicator does not change its value until a reverse signal appears.


Signal to buy

The first bar filled with green color (the Histogram, DotHistogram mode of the indicator) or the appearance of a line (the first blue dot, the Dot mode of the indicator), speak of a signal to buy.

The Stop Loss level can be set directly at the level of the line (the first blue dot) (the Dot, DotHistogram mode of the indicator).

In the future, the line will go up, it can be used as the Trailing Stop line.


Signal to sell

The first bar filled with red color (the Histogram, DotHistogram mode of the indicator) or the appearance of a line (the first yellow dot, the Dot mode of the indicator), speak of a signal to sell.

The Stop Loss level can be set directly at the level of the line (the first yellow dot) (the Dot, DotHistogram mode of the indicator).

In the future, the line will go down, it can be used as the Trailing Stop line.


The Take profit, Trailing Stop levels or the reverse signal can be used to exit the trade.


Input Parameters

  • Mode: The indicator display mode
    • Dot - Display only the line
    • Histogram - Display only the colored bars
    • DotHistogram - Display both the line and the colored bars
  • Trend Period: The period for indicator calculation
  • Play Sound: Play sound when a new buy (or sell) signal appears.

Please note! Drawdowns are possible during flats or transfers to retracement.

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