This is the free version of TrendMaster. It includes the Cloud and the candle colouring rules but does not provide the entry, exit and stop loss management of the full version.
TrendMaster is a complete trend following system with strict entry, exit and trade management criteria. The indicator is optimised for weekly, daily and 4-hour and can be used for all trending markets such as crypto, forex or stocks. It was developed primarily for less experienced traders that struggle to determine relevant information from irrelevant information when viewing a chart. The indicator was built to solve the problem that all new traders face. For a complete guide to TrendMaster please visit https://www.trendmaster.io/.
The indicator includes a moving average cloud which serves as a visual guide to local . When price exits the cloud to the upside it typically trends above and finds support at the cloud during retracements.
By default, TrendMaster will colour your candles in black and white. White candles indicate an uptrend in an asset and the candles will not change colour until the trend has reversed and a counter-trend signal has been printed. Black candles indicate a downtrend, they will remain black until a counter-trend long signal candle has been printed.
Setting Up The Indicator
TrendMaster is optimised for Heikin-Ashi candles. Using candles with smoothing applied decreases the likelihood of whipsaw losses and provides a stable visual representation of the trend. Ensure you have applied Heikin-Ashi candles to your chart before continuing. You can customise to any style of your choice provided the candle borders and wicks are set to a uniform colour that contrasts the chart background.
Entries and Exits
A long signal candle is a white Heikin-Ashi candle that closes above the cloud. A short signal candle is a white Heikin-Ashi candle that closes below the cloud. Entries are taken with a pending order placed at the wick with a reasonable margin for error.
The full version of TrendMaster contains significantly more functionality including coloured signal candles, stop loss and trailing take profit management, alerts and much more.
If you would like to use The full version of TrendMaster or any of our other Indicators, please visit https://www.trendmaster.io/.
Founded in 2018 by IchimokuScholar and C00kie, TrendMaster is a team that produces indicators with an emphasis on simplicity and noise reduction. We support a large community with educational content, automated market scanners and mentoring in our private chat rooms. We produce indicators geared primarily towards the emerging Cryptocurrency asset class. We provide educational material to assist trader development and host a large online trend following community. All of our products are designed to help traders distinguish relevant information from background noise. Our indicators encourage disciplined trade management to maximise the opportunity captured while minimising losses.
IchimokuScholar – In 2017 I retired from a career in higher education to focus on Trading. I like to trade long term trends, focusing primarily on continuation setups. I am dedicated to sharing my knowledge of trading and take great pleasure in simplifying for newer traders.
I started trading crypto in 2017 and immediately started coding a bunch of tools to improve my quality of life. Some definitely worked out better than others. Like to trade the higher timeframes and drawing horizontal lines on charts. I am also pretty much obligated to like cookies.