Trend Strength mt5
The Trend Strength is now available for the MetaTrader 5.
This indicator determines the strength of a short-term trend using the tick history that is stores during its operation.
The indicator is based on two principles of trend technical analysis:
- The current trend is more likely to continue than change its direction.
- The trend will move in the same direction until it weakens.
The indicator works on the M30, H1, H4 and D1 timeframes.
It is easy to work with this indicator both in manual and in automatic modes.
For manual trading, it is possible to send e-mail messages and play sound notifications when a buy or sell signal appears.
In order to obtain the accurate data on the current strength of the trend in automatic mode, it is better to refer to the global variables of the client terminal that the indicator creates (requires the indicator to be running on the chart). The indicator data can also be obtained by standard means using the indicator buffers.
Features of the Trend Strength mt5 indicator
- Does not use third-party indicators;
- works with the tick history;
- does not redraw;
- works on the M30, H1, H4 and D1 timeframes;
- sends e-mail messages and plays sound alerts;
- access to the indicator values no only via the indicator buffers, but also using the global variables of the terminal directly;
Indicator Input ParametersFirst 4 parameters are responsible for calculation of the averaged maximum (or required) strength values of bullish and bearish trend for the selected history interval (green and purple lines in the indicator window):
- To use different fixed numbers of the trend - if this parameter is set to "true", the line calculation considers the values of strength with values greater than or equal to the specified. If "false", the calculation considers the specified number of bars with the greatest values of trend strength (individual for bullish and bearish trend);
- Fixed numbers of the trend - specified value of trend strength (the parameter is used if "To use different fixed numbers of the trend" = true);
- Number of bars to calculate average numbers - specified number of bars with the greatest values of trend strength (the parameter is used if "To use different fixed numbers of the trend" = false);
- Number of bars for analysis - selected history interval.
The following four parameters set the conditions of receiving trade signals and the method of their generation:
- To send an E-mail - send e-mail messages (enable/disable);
- Give sound signal - sound alert (enable/disable);
- Alert settings - setting for signal generation condition: exceeding the specified trend strength (Alert settings = FixNumber), crossing of the green or purple line (Alert settings = SignalLine), or if both conditions are met (Alert settings = SignalLine_and_FixNumber);
- The fixed strength of the trend - specified trend strength.
The latter parameter defines the number of bars in the most recent history for the indicator to calculate its values:
- Size history bar - the number of bars.
The blue and red wide indicator columns display the data on the greatest strength of a bullish and bearish trend respectively, which were recorded during the bar formation. The thin columns of the indicator display the data on the strength of the current trend (for the current bat) and the strength of the trend at the moment of bar closure (for completed bars).
Tips for trading with the Trend Strength mt5 indicator
- From February 2016 to the present time, analysis of the indicator operation on the USDCAD currency pair with the D1 period (results of visual testing can be seen in the attached video) has been performed. It showed that in this case it is better to use aggressive ratio of StopLoss to TakeProfit in trading (for example, StopLoss = 50 points, TakeProfit = 100 points).
- The best and profitable signals are obtained after a prolonged flat movement, when the volatility of the financial instrument is greatly decreased (for example, before the news release). The indicator allows to "capture" the subsequent strong trend at an early stage.