Trend Equilibrium Indicator TrendEQ - indicator for MetaTrader 5

Settings and Parameters General Parameters Momentum Period Used to calculate the number of candles for 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 the volatility. Suggested value: 14 Scaling factor The scaling factor adjusts the pointer calculation to produce a readable curve. Default value: 100000 Threshold Overbought level Above which the market is considered overbought. Default Value: 100.0 Oversold Level Below this value, the market is considered oversold. Default value: -100.0 Function Trend Determination: Positive: Indicates upward momentum (bullish trend). Negative: Indicates downward momentum (bearish trend). Volatility Adjustment: This indicator adjusts the momentum calculation according to the current market volatility, providing more accurate and timely signals. Overbought/Oversold Signals: Overbought: Indicates that a price correction may be imminent. Oversold: Indicates that prices are likely to recover soon.