Tidane Trend Indicator for MT5 Download – Free – [TradingFinder]

The Tidane Trend Indicator was developed for price action analysis in MetaTrader 5 and operates based on Bollinger Bands.

This trading tool visualizes market conditions using two color-changing lines, and the color shift itself is used as a signal for trade entry and exit.

Tidane Trend Indicator Specifications Table

The table below shows the specifications of the Tidane Trend Indicator.

Tidane Trend Indicator at a Glance

In this indicator, trading signals are generated when the price breaks through the colored lines. 

When the price crosses above the orange line, a green line appears, indicating the beginning of an uptrend. Conversely, if the price breaks below the green line, this is considered the start of a downtrend, and the appearance of the orange line confirms the bearish movement.

Bullish Trend Conditions

Based on the Ethereum (ETH) cryptocurrency chart in the 30-minute timeframe, the price has broken above the orange line, which previously indicated a downtrend.

In this scenario, the appearance of the green line is interpreted as an initial signal for entering a buy position. Additionally, to manage risk more effectively, traders can place their stop loss below the green line area.

Bearish Trend Conditions

According to the EUR/GBP pair chart on the 1-hour timeframe, once the green line is broken, the orange line appears as a warning to enter a sell position.

In such conditions, traders entering a short position may consider the area above the orange line as an appropriate place to set a stop loss.

Tidane Trend Indicator Settings

The settings of the Tidane Trend Indicator are as follows:

• Bollinger Bands Period: Period for calculating Bollinger Bands;
• Deviation: Standard deviation for spacing the Bollinger Bands;
• Offset Factor: Offset coefficient for adjusting the visual position of indicator lines;
• Display signals mode: Mode for displaying signals and stops;
• Display line mode: Enable display of the indicator line on the chart;
• Nbars: Number of candles used for calculations;
• ALERT: Enable alerts;
• EMAIL: Send alert as an email;
• NOTIFICATION: Enable sending notifications;
• MESSAGE_TIMEOUT: Time interval between alert messages;
• MESSAGE_SUBJECT: Default subject line for alert messages.

Conclusion

The Tidane Trend Indicator is a practical technical analysis tool that uses dynamic colored lines to clearly and intuitively display price direction.

Simplifying the trend detection process facilitates the identification of trend reversals and entry/exit opportunities.