Xtreme Trendline

Xtreme Trendline

19 May 2019, 12:00
Radek Reznicek
0
107


Xtreme Trendline 

Xtreme Trendline is an advanced powerful trend indicator. This indicator is based on candles analysis and trend channels. It can be used on any trading pair or instrument on any time-frame. This indicator is fully customizable by user.


link to the product: https://www.mql5.com/en/market/product/34036


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Features

  • Any trading instrument
  • Any timeframe
  • Fully customizable by user
  • More Trendlines on one chart
  • Automatic trend direction channels


Possible usage

Use on any time-frame (below are some suggestions):
  • M15 for fast scalping
  • M30, H1 for day trading
  • H4 for swing trading
  • D1, W1 for position trading

Can be use on more timeframe at once to catch best moment for the trade entry.

Can be placed more time to one chart with different settings for better trend filtering.


Possible adjustments - Tips:

By increasing PriceLineMainPeriod and PriceLineFilter parameter the indicator will create less false signals but also detection of the trend reversal will be slower.

Generally said:

  • Higher PriceLineMainPeriod  value - slower indicator but less false signals
  • Higher PriceLineFilter value - slower indicator but less false signals (recommended to use higher numbers for the more volatile trading pairs)
Lower time-frames require higher PriceLineMainPeriod and PriceLineFilter values in general 

Below you can find some examples (for the inspiration) how these parameters can be set for different trading pairs on different time-frames.

  • PriceLineMainPeriod = PLMP
  • PriceLineFilter = PLF


Parameters

Trendline Settings
  • PriceLineMainPeriod - Main trendline detection period¨
  • PriceLineFilter - Filtering constant
  • PriceLineSmoothPeriod - Main trendline smooth period
  • UptrendBackColor - Background color for UPtrend line
  • UptrendFrontColor - Foreground color for UPtrend line
  • DowntrendBackColor - Background color for DOWNtrend line
  • DowntrendFrontColor - Foreground color for DOWNtrend line
  • BackLineWidth - Background Trendline width
  • FrontLineWidth - Foreground Trendline width
  • ShowTrendArrows - Show/Hide Reversal arrows
  • ArrowUpColor - UPtrend reversal arrow color
  • ArrowDownColor - DOWNtrend reversal arrow color
  • ShowReversalPoint - Show/Hide Reversal points on trendline
  • ReversalPointColor - Reversal points color
  • LineInBackground - Trendline in foreground/background selction

Trend Stable Area Settings

  • ShowStableTrend - Show/Hide stable trend area channel
  • StableTrendMaxVariance - Maximum variance for stable trend area detection
  • StableTrendMinLength - Minimum bars for the stable trend area detection
  • StableTrendMaxWidth - Maximum bars distance for the stable trend area
  • StableTrendAreaColor - Stable trend area channel color
  • StableTrendAreaLineStyle - Stable trend area channel line style
  • StableTrendAreaLineWidth - Stable trend area channel line width
  • StableTrendAreaProlong - Stable trend area channel lines prolong to the future
  • StableTrendAreaFill - Stable trend area channel fill with color








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