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Published:: 2018.10.25 18:20

iMax3.mq5 (13.85 KB) view

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Indicator - iMAX3 trend detector

There are five inputs:

Step - step size
Auto step mode - step size auto selection (Yes/No)
Use iMAX mode - use iMAX mode (Yes/No)
Use HP mode - use HP mode (Yes/No)
Use HPX mode - use HPX mode (Yes/No)

Step size is a configurable parameter that affects sensitivity when defining a trend direction. It has rather small values varying from 0.01 on a monthly chart down to 0.0001 on a minute one. If Auto step mode = Yes, programmatically preset values are used in the Step filter.

Filter modes:

iMAX mode is the most adaptive but least responsive one out of three available modes in term of a trend change detection rate. However, this is a good choice, especially in highly volatile markets.
HP mode is the fastest and most adaptive trend detector. However, it is less resistant to price surges compared to iMAX.
It provides a good trade-off between trend detection/filtering speed.
HPX mode is the fastest trend detector, but since it is highly sensitive, it very quickly changes trends even in weakly volatile markets.
Thus, it is probably not the best choice for determining the direction of a trend on lower timeframes, but it can be used on higher ones.

Fig. 1. All three modes

Fig. 2. iMAX mode

Fig. 3. HP mode

Fig. 4. HPX mode

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22340

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