In this post I will be reviewing Forex Trendy. This is a trading indicator that has been specifically developed to help users quickly and easily identify the trend and chart patterns across all currency pairs and time frames. Read on to find out more about what it is and how it works.
What is Forex Trendy?
To summarise, Forex Trendy is a tool that will scan all currency pairs across all time frames to try and find the overall trend. This is to help ensure that you are trading in the direction of the trend, as the old saying goes, “the trend is your friend”.
It is hard to categorise Forex Trendy as it is a mixture of signals, a manual trading system and forex robot. The signals consider the overall direction of the market – not just the current time frame but the bigger picture.
I will often see trading systems that focus on one chart time frame but I personally don’t feel this is enough. E.g. If we can see that price is falling on the 15-minute chart and consider placing a short (sell) trade, we could check the higher chart timeframes such as the 1 hour or daily charts to see if they agree with going short. If these timeframes show the market is rising, we may want to rethink that 15-minute chart setup.
This is where Forex Trend comes in handy – it will automatically scan multiple chart time frames and present the findings in one easy to understand interface.
How does Forex Trendy Work?
There is no software to install or eBooks to read with Forex Trendy. Instead, you have access to live charts of various currency pairs and time frames, each displaying the current trend direction. This can save you the hassle from having to go through multiple charts and time frames to identify the trend manually. It uses no indicators, instead the trend is determined by pure price action.
In fact, most traders only look for the trend on a single time frame whereas Forex Trendy has the added benefit of showing you the trend from across all pairs and time frames. That is a whopping 34 currency pairs x 9 timeframes which totals 306 charts analysed! Now it would be very time consuming to do that manually and trade at the same time.
Forex Trendy comes with audio and email alerts so wherever you are or whatever you are doing, you can easily keep track of the trends across all pairs. The auto analysis options allow you to choose specific currency pairs and time frames or you can just leave the default set to all and get a signal for trends that appears across the forex market.
The signal alerts are very beneficial as it means that we do not have to look at charts all day and can take those signals that fit within our trading schedule and trading strategy.
You do not need to take every single Forex Trendy signal that is generated. You can add your own market analysis to confirm them. You could also use the signals as possible exit points if you already have trades open that are now against the trend.
Everyone has a different trading strategy, style and preferred money management. For that reason, you should implement Forex Trendy into your day trading in a way that suits your individual needs and goals.
Recently there was a special bonus added to the Forex Trendy indicator which can recognize chart patterns forming in addition to the trend. Some of the chart patterns it can identify are triangles, flags, wedges and more.
It’s not just drawing trendlines, but it’s actually looking for reliable patterns formed by strong trendlines having more than two touching points at a certain distance. This can be additional confirmation of the market direction if they agree with the trend.
If you are not familiar with chart patterns, you will get the 30-page ebook “Understanding The Myths Of Market Trends And Patterns” with plenty of real examples right after subscribing.
Forex Trendy additional features include:
- Live charts of emerging patterns and the history of completed patterns
- Audible alerts and email alerts for the new completed patterns
- Forex Trendy uses sophisticated algorithm to consider which trend line or pattern looks better – with more touching points
- Chart pattern recognition is included in Forex Trendy for no extra fee
What do I need to use Forex Trendy?
In order to use Forex Trendy, you just need a trading platform and trading account with a forex broker. There are hundreds of forex brokers around the globe, some of which you can find on my best forex brokers page. Most brokers will allow you to open a free demo account so that you can practice trading with Forex Trendy using virtual funds. This can be a great way to familiarise yourself with the software and see if it is something that you find beneficial in your day to day trading.
Forex Trendy Summary
Forex Trendy is an easy to use software solution to help users try and avoid trading during uncertain market periods. It quickly scans 34 Forex pairs on all time frames from minute to monthly. This can help you decide what currency pair and time frame you want to trade.
You can use Forex Trendy to filter your current trading system to trade with the trend or you can use it as a trading system as is. However, it does require the user to take the initiative and decide if they want to enter a trade depending on their own analysis, trading strategy and money management.
There is nothing you have to download or install as the software runs on powerful computers so you instantly get the result online. Therefore, you can use your favourite trading platform such as MetaTrader, NinjaTrader, TradeStation, etc.
The Forex Trendy system comes with easy to follow instructions, full support and a money back guarantee. You can purchase it directly from the official website using the link below.