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Indicators

Trend Equilibrium Indicator TrendEQ - indicator for MetaTrader 5

Simon Draxler
Views:
4446
Rating:
(8)
Published:
2025.01.12 17:34
Updated:
2025.01.13 10:03
XAUUSDH1.png (61.07 KB)
TrendEQ.mq5 (10.21 KB) view
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Settings and Parameters

General Parameters

  • Momentum Period
    The number of candles used to calculate momentum.
    Recommended value: 14
    (The higher the value, the smoother the curve, but with a lag.)

  • Volatility Period
    The number of candles used to calculate volatility.
    Recommended value: 14

  • Scaling Factor
    The scaling factor adjusts the indicator calculation to produce a readable curve.
    Default value: 100000

Thresholds

  • Overbought Level
    The value above which the market is considered overbought.
    Default value: 100.0

  • Oversold Level
    The value below which the market is considered oversold.
    Default value: -100.0

Functions

  1. Trend Determination:

    • Positive values: Indicate upward momentum (bullish trend).
    • Negative values: Indicate downward momentum (bearish trend).

  2. Volatility Adjustment:
    The indicator dynamically adjusts momentum calculations based on current market volatility, providing more accurate and timely signals.

  3. Overbought/Oversold Signals:

    • Overbought: Indicates the price might soon correct.
    • Oversold: Indicates the price might soon recover.
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