Watch how to download trading robots for free
Find us on Facebook!
Join our fan page
Join our fan page
You liked the script? Try it in the MetaTrader 5 terminal
Trend continuation factor2 - indicator for MetaTrader 4
- Views:
- 27071
- Rating:
- Published:
- 2016.05.16 09:50
- Need a robot or indicator based on this code? Order it on Freelance Go to Freelance
Author: Conversion only Doc Gaines
Trends indicate an important component of the market. You should certainly be able to determine them. However, it is not enough just to determine the trend. It is also important to determine the direction of the current trend. Although trends help to earn more money in short periods of time, they also "help" to quickly lose them, if a position is opened against the market. To avoid such situations the author developed a "trend continuation factor" (TCF). This indicator is created to determine the trend and its direction.
For a clearer understanding, read here.
Trends indicate an important component of the market. You should certainly be able to determine them. However, it is not enough just to determine the trend. It is also important to determine the direction of the current trend. Although trends help to earn more money in short periods of time, they also "help" to quickly lose them, if a position is opened against the market. To avoid such situations the author developed a "trend continuation factor" (TCF). This indicator is created to determine the trend and its direction.
For a clearer understanding, read here.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/7493
Ticker Trail
Here, the trail line is used instead of the signal line. Trail is the line that is distanced from the current price no more than the trailing length.
Ticker MACDThe chart contains the main line (the difference between the fast EMA and the slow EMA, applied to the Ticker line) and the signal line (obtained by applying the SMA to the main line).
TrendStrength
The indicator used to determine the global trend.
TrendStrengthTrioThis version of the indicator combines 3 TrendStrength.