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Ftap Trend Filter

Trend Filter is an advanced and versatile trend filter indicator. It detects current trend and shows it in colorful lines.

The indicator value is between -100 and 100. If the value is above 0, it is in an up trend, and the larger the value, the stronger the up trend. If the value is below 0, it is in a down trend, and the smaller the value, the stronger the downtrend.


Features

  • Stable trend detection, less chaos.
  • Works for any instruments.
  • Works on any timeframes, from M1 to D1.
  • Generates alerts.
  • No repaints, no recalculation.
  • 4 and 5-digit brokers.


Parameters

  • LookBackPeriod - look back period for trend detection. Usually it is within 10~20. The longer the period, the more stable but more lagging it is.
  • SmoothPeriod - smooth period. Usually it is within 5~20. The longer the period, the more smooth but more lagging it is.
  • LevelHigh, LevelMiddle, LevelLow - set the levels for overbought/sold detection. The usual values are (90, 0, -90).
  • EnableAlert - turn on/off alert under certain condition.
  • DrawArrowOnAlert - draw arrow on the chart when alert happens. Only valid when EnableAlert is true.
  • EnablePushNotification - send push notifications to the mobile terminals when alert happens. Only valid when EnableAlert is true.
  • AlertOnOverBuySell - alert when the indicator goes above overbought (greater than LevelHigh) or oversold (less than LevelLow). Only valid when EnableAlert is true.
  • AlertOnReverseFromOverBuySell - alert when the indicator was overbought or oversold on previous bar and now goes to the middle zone. Only valid when EnableAlert is true.
  • AlertOnCrossMiddleLevel - alert when the indicator goes across LevelMiddle. Only valid when EnableAlert is true.
  • AlertCheckPoint - at which bar to check the alert. 1 - at the previous closed bar, 0 - at current unclosed bar, this will cause the alert repaints.


Usage

Ftap Trend Filter is a versatile indicator and can be used in several ways.

1. Use Trend Filter as a filter to your entry strategy.

If the value is positive (green color), only enter long trade. If the value is negative (red color), only enter short trade.

2. Use Trend Filter as an entry signal.

When the color turns green from red, buy. When the color turns red from green, sell.

3. Use Trend Filter as overbought/sold signal.

When the value goes below 90 (LevelHigh) and previous value is above 90, sell. When the value goes above -90 (LevelLow) and previous value is below -90, buy.

4. Use Trend Filter as peak/valley detector.

When the values form a peak (the value is higher than the values on its left and right), sell. When the values form a valley (the value is lower than the values on its left and right), buy.

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