CodeBaseSections
Watch how to download trading robots for free
Find us on Twitter!
Join our fan page
Interesting script?
So post a link to it -
let others appraise it
You liked the script? Try it in the MetaTrader 5 terminal
to pocket
Indicators

Trend Equilibrium Indicator TrendEQ - indicator for MetaTrader 5

Simon Draxler
Views:
4316
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
Download as ZIP, How to download code from MetaEditor
MQL5 Freelance Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

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.
Candlestick patterns Candlestick patterns

This is a indicator displaying candlesticks patterns on a chart.

Strategy report output into a chart Strategy report output into a chart

This script was developed for displaying saved Strategy report from the Strategy Tester into a chart.

Symbol Swap Panel Utility Symbol Swap Panel Utility

Symbol Swap Panel: Effortlessly switch the active symbol on your chart while simultaneously adding the new symbol to Market Watch. This tool ensures seamless integration and access to real-time market data, optimizing your trading workflow.

Checking the server time changes due to the daylight saving time (DST) changeover Checking the server time changes due to the daylight saving time (DST) changeover

Unfortunately, I discovered that some brokers are a bit sloppy with the server time change due to the daylight saving time (DST), which I did not expect and which surprised me a lot. Here is a script with which anyone can check their broker.