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2011.10.27 17:13
Indicators

PowerTrend - indicator for MetaTrader 5

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Published by:
Nikolay Kositsin
Views:
4485
Rating:
votes: 10
powertrend.mq5 (8.76 KB)view

Real author:

SVS

PowerTrend indicator determines trend power and direction.

The histogram location on a current bar relative to zero is determined to get current market trend direction. Histogram bar color indicates trend power. Presence of the black color only implies that a trend is very weak or is absent. Red color implies that a new trend is emerging. Addition of the blue color to the histogram bar shows moderate trend and the green color points to strong accomplished trends.

This indicator was first implemented in MQL4 abd published in Code Base at mql4.com 28.08.2007.

PowerTrend indicator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/508

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