Meta Trader 4
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The Trend Stop Indicator primary purpose is the detected change in the trend for the selected time period. Trend Stop indicator will show Highest / Lowest value of the last N periods. Depending on the current trend direction, this will be Highest High of last N periods for Down trend, respectively Lowest Low of last N periods for Up trend. Trend change will occur, is detected, if the closing price crosses over Trend Line Stop. At this time is recommended to open positions as suggested by price / Trend Stop Crossover. Open Long position if Price crosses over Trend Stop Line. Open Short positions if Price crosses under Trend Line Stop.
Secondary purpose of Indicators is to suggests optimal level for your stops.Place all your stop orders below Trend Stop Line for Uptrend, respectively,above Trend Stop Line for the downtrend.