The TrendMD (TMD) is one more promising trend indicator. It works in two modes :"Close/Close" or "High/Low". The different is only in price sources which will be used in calculation of specific levels in internal algorithm. According to them, the TMD indicator draws a trend line.
Signals: In general. Red arrow (color by default) is signal for sell and green arrow (color by default) is signal for buy.Also, TMD provides the alert mode if enabled.