Sideway Trend Indicator MT5
- Indicators
- Eda Kaya
- Version: 1.3
Sideway Trend Indicator for MetaTrader 5
The Sideway Trend Indicator for MetaTrader 5 is a practical analytical tool designed to detect consolidation phases where the market lacks directional movement. During such periods of reduced volatility, the indicator visualizes the range-bound behavior.
Once the price breaks out of this sideways phase, the tool issues clear entry signals, enabling traders to act with improved timing and accuracy.
«Indicator Installation & User Guide»
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Sideway Trend Indicator Specifications
| Category | Technical Tool – Oscillator – Market Signal |
| Platform | MetaTrader 5 |
| Skill Level | Intermediate |
| Indicator Type | Predictive – Range Identification |
| Time Frame | Suitable for multiple time frames |
| Trading Style | Day Trading |
| Market Type | Forex – Cryptocurrency – Equities |
Overview of the Indicator
The Sideway Trend tool behaves similarly to traditional RSI-based systems but is calibrated differently—its scale fluctuates between -1 and 1. It highlights range-bound market periods using a green-colored zone, assisting traders in filtering out choppy, trendless price actions.
Behavior During Uptrends
As the indicator’s line moves above the neutral band and turns blue, it reflects a transition into a bullish phase. This blue signal suggests a build-up in buying momentum and forecasts a potential upward movement. Traders may use this scenario to time long entries with more confidence.
Behavior During Downtrends
When the indicator dips below the green neutral zone and turns red, it denotes the onset of bearish sentiment. This color change indicates increasing selling pressure, offering short-selling opportunities for traders aiming to capitalize on downward price action.
Settings and Parameters of the Sideway Trend Indicator
- Chart Theme: Sets the visual style of the chart background;
- RSI Period: Defines the period for calculations; the standard value is set at 20;
- Signal Level: Allows customization of the signal threshold; default is 0.38;
- Neutral Level: Specifies the central (sideways) range; typically set to 0.05.
Conclusion
The Sideway Trend Indicator for MetaTrader 5 serves a dual purpose: it identifies sideways market behavior and provides actionable trade signals upon breakout. Its visual green-neutral band keeps traders informed about indecisive conditions, helping to avoid entering during low-probability setups.
