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Published:

2012.12.20 07:26

Updated:

2016.11.22 07:32

trendcontinuationfactor.mq5 (3.81 KB) view

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Positive values indicate a strong trend. TCF+ and TCF- values can not stay simultaneously higher than zero point, but both can have negative values that speaks of consolidation or lack of a trend.

Trend Continuation Factor

Recommendations:

It is recommended to open long positions when the TCF+ becomes positive (the indicator has blue color and crosses the zero line bottom-up).
It is recommended to open short positions when the TCF- becomes higher than zero (the indicator has red color and crosses the zero line bottom-up).

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/1275

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Trend Continuation Factor - indicator for MetaTrader 5