Tidane Trend Indicator Download for MT5 – Free | Forex Indicator Download – MetaTrader 5 Resource

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

This trading tool uses two color-changing lines to visualize market conditions, and the color change itself is used as a signal for trade entry and exit.

Tidane Trend Indicator Specification Sheet

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

Tidane trend indicators at a glance

In this indicator, a trading signal is generated when the price breaks above the colored line.

When the price breaks above the orange line, a green line appears, indicating the beginning of an uptrend. On the contrary, if the price falls below the green line, it is considered the beginning of a downtrend, and the appearance of the orange line confirms the bearish move.

bullish trend conditions

According to the Ethereum (ETH) cryptocurrency chart on the 30-minute time frame, the price has broken above the orange line, which had previously signaled a downtrend.

In this case, the appearance of the green line is interpreted as an initial signal to enter 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 currency pair chart on the 1 hour time frame, once the green line is breached, the orange line appears as a warning to enter a sell position.

In this case, traders entering a short position might view the area above the orange line as an appropriate place to place a stop loss.

Tidane Trend Indicator Settings

The Tidane trend indicator is set up as follows:

• Bollinger Bands Period: Bollinger Bands calculation period;
• Deviation: the standard deviation of the Bollinger Band interval;
• Offset Factor: Offset factor used to adjust the visual position of the indicator line;
• Display signal mode: display signal and stop mode;
• Display line mode: Enable indicator line display on the chart;
• Nbars: the number of candles used for calculation;
• ALERT: Enable alerts;
• EMAIL: Send alerts by email;
• NOTIFICATION: Enable sending notifications;
• MESSAGE_TIMEOUT: The time interval between alert messages;
• MESSAGE_SUBJECT: The default subject line for alert messages.

Conclusion

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 helps identify trend reversals and entry/exit opportunities.