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Trend Power for MT4
Trend Power Indicator is an indicator which helps to identify trend direction and its power by using moving averages ZigZag pattern and correlations of tradable instruments. It provides trend power data with user-friendly interface which can be read easily and fast.
This indicator by default is configured for trading of Adam Khoo's (Piranhaprofit) strategies. It saves mass of time for searching of tradable pairs by his strategies. It indicates when all required moving averages are alignment (Price > 6EMA > 18EMA > 50EMA > 200SMA and so on). Also, it indicates number of correlated pairs by moving averages alignment.
Trend Power Indicator supports many powerful features:
- Trend direction identification by moving averages alignment at trading timeframe and higher timeframe;
- Trend power identification by moving averages alignment at trading timeframe and higher timeframe;
- ZigZag Pattern identification (Higher high and higher low for bullish and opposite for bearish);
- Correlation identification by moving averages alignment of correlated pairs;
- Calculating amount of total correlated pairs (base and quote);
- Calculating amount of total correlated pairs with base currency;
- Calculating amount of total correlated pairs with quote currency;
- Calculating of trend power scores;
- Powerful notification system by Email, Mobile Push and MT4 Alert Window;
- Unlimited scaling of indicator visual objects for better viewing;
- Support of high resolution (4K) screens;
- User – friendly interface;
Read this User Guide to get full information.
Because this indicator aggregates data from different timeframes and different pairs It's not possible to test it at full range in standard tester. This indicator will be ported to MT5 terminal where it will be passible to test it at full range.
MT5 Version: https://www.mql5.com/en/market/product/53104
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If you want new feature contact me please.
Added placement of arrow for trend power notification signal.
Improved loading of indicator state while adding indicator on chart, timeframe switching etc.
Improved algorithm for getting symbols for correlation calculation.
Fixed loosing of trend power score for bullish trend if calculated values for fast trend power moving average and slow trend power moving average are equal.
Ignoring correlation for symbol if base and quote currencies are equal (sometimes broker returns equal value for base and quote).