John Henry closed his trend fund to outside investors after losing money past years. http://www.reuters.com/article/2012/11/09/john-henry-shutdown-idUSL1E8M99XF20121109
I would say a better concept than "price trend" is to research if certain conditions tend to create a positive or negative drift in a market. Just a small incremental improvement in daily drift over random (or even worse fighting long term drift) can do wonders for the success of a long term system or approach. There is plenty of academic literature on this subject for stocks, currencies, and futures contracts that can make a good starting point. If conditions for positive or negative drift can be established it it is much easier to find trend based models that are effective. Another approach I use is to fade tend-based signals when they are contrary to a market drift that is determined by other criteria. This is another way to use a trend approach that is counter-intuitive. Just tossing together various MA combinations and the like is not a formula for creating much success.