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I do not think that a trend can be determined from the last 5 bars, but 30 or 50 bars would be more appropriate. But if you insist on taking 5 bars only you have numerous options.
-> Use a 5-period Fast Stochastic or 5 period RSI and check whether they are above or below 50, you can even define a neutral range.
-> Check whether the close is above or below the 5-period Median or 5-period SMA.
-> Determine the slope of a 5-period Linear Regression Indicator
-> Calculate the 5-period Directional Movement
and so on. There are no limitations how to define the trend. Again I use a much longer term period to define a trend and then try to identify retracements within that longer period, which are tradeable.
