In trending market you usually want to place orders in the direction of the trend and to do so the Trend Magic indicator may be of great help.
Trend Magic Indicator for MT4 is created from combining CCI and ATR values and to help you determine trend.
With this indicator you can determine if market is Bullish or Bearish and with the “candle” confirmation you will avoid jumping in too early and finding yourself in the wrong side of the market.
- When Trend Magic Indicator turns BLUE you should consider going Long
- When Trend Magic Indicator turns RED you should consider going Short
These are the standard settings for Trend Magic Indicator:
You should use this indicator together with different strategies, as it is much better and powerful when used together with other trading tools.