Trendlord Indicator

Trendlord Indicator was created specifically for beginner traders to provide them with a basic trend-following forex trading solution. This indicator’s entire signal demonstration method is turned into basic moving average trading. As a result, anyone, from beginners to seasoned traders, may grasp this forex trading solution. The Trendlord Indicator can be used to trade any forex currency pair that is posted on the financial markets. Furthermore, it is appropriate for both scalping and intraday trading.

What is the Trendlord Indicator?

With a demonstration procedure similar to the moving average, the Trendlord Indicator is a pioneer in trend tracking technical instruments. It employs a 12-day smoothed moving average of closing price data over a period of time. This is a trading solution for scalping and intraday trading that is used by both experienced and inexperienced traders. Aside from the currency market, you may utilize the Trendlord NRP indicator in other financial markets. The indicator responds to price movements fast and with less lag than traditional moving averages. A bullish trend happens when the price closes above the blue indicator bars, while a bearish trend occurs when the price closes below the red indication bars.

Setting up the Trendlord NRP Indicator
Setting up the Trendlord NRP Indicator

Trendlord Strategy

In order to plot the signal bars, the Trendlord Indicator uses a 12-day Smoothed Moving Average calculated based on the close price over the selected period of price data. This indicator functions similarly to Simple Moving Averages. The only difference is that it lags less than MAs and reacts to price changes much faster. When the price closes above the blue indicator bars, it indicates that the trend is bullish. The price closing below the red bars of the indicator, on the other hand, represents the market’s bearish trend. Trendlord levels can also be used as dynamic trailing stops for open positions in the market.

Buy Signal

The following could be your checklist for a buy trade:

  • When the indicator’s bars turn blue in color.
  • When price closes above the indicator level.

Once these events occur:

  • You could open a buy position after you confirm your entry with bullish candlestick patterns.
  • You could set your stop loss just below the nearest swing low.
  • You could set your take profit at the nearest resistance zone, or you could exit trade when the indicator’s bars turn red in color.
  • For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Trendlord NRP Indicator Buy Setup
Trendlord NRP Indicator Buy Setup

Sell Signal

The following could be your checklist for a sell trade:

  • When the indicator’s bars turn red in color.
  • When price closes below the indicator level.

Once these events occur:

  • You could open a sell position after you confirm your entry with bearish candlestick patterns.
  • You could set your stop loss just above the nearest swing high.
  • You could set your take profit at the nearest support zone, or you could exit trade when the indicator’s bars turn blue in color.
  • For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Trendlord NRP Indicator Sell Setup
Trendlord NRP Indicator Sell Setup

Trendlord Pros & Cons

Pros

  • Trendlord levels can be used as dynamic trailing stops for open positions in the market.
  • This indicator can be used to identify the trend direction and may assist in staying in a trending market without exiting too quickly.

Cons

  • The Trendlord Indicator may not be very suitable for scalping on the smaller timeframes.
  • Lagging of the indicator sometimes may negatively affect the trader’s risk to reward ratio.

Conclusion

The Trendlord Indicator is a trend-following technical tool which is quite easy to understand and utilize even by novice traders. It’s straightforward and chart friendly. The trader would have to look at the color of the indicator bars. When the bar is red, it indicates that the trend is bearish, whereas the blue bar indicates that the trend is bullish. This indicator may be worth adding to your collection of trading tools, although it does not guarantee profits.

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