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Omega Trend Indicator

MQL5 channel. For news and discount here -> https://www.mql5.com/en/channels/fxautomater

Telegram channel: https://t.me/fxautomater_official

Telegram group: https://t.me/fxautomater_eas

The Omega Trend Indicator is an advanced tool that has been specifically designed to detect market trends early, and follow them efficiently. The indicator draws two lines. The main (thicker) Trend Line represents the presumed lower or upper volatility limits of the current market trend. A break in the main Trend Line indicates a potential reversal or shift in the movement of the trend. The Trend Line also indicates the best point to place a stop loss order. In Omega Trend Indicator, the Trend Line indicates the exact point of the initial stop loss, as well as where the trailing stop is moving. For uptrends the Trend Line is blue, for downtrends it is pink (see the first image below).


There is an EA which use Omega Trend Indicator signals for trading. It is Omega Trend EA. You can check it here: https://www.mql5.com/en/market/product/56222


The secondary (thinner) Pivot Line represents the presumed Pivot level of the market. Breaks in this line can be used for short-term/scalping trades following the current market trend indicated by the Trend Line.

Although the Omega Trend Indicator’s signals are clear and easy to interpret (see the second image below), there are a few steps you should follow to filter out false trading signals. First, you need to be able to recognize a choppy market and try to ignore it. A choppy market is a market that is highly volatile but results in no overall price movement, in either direction. These price spikes and sharp rebounds from the range borders can generate a series of poor signals. In the third image below, you can see an example of a choppy market. A choppy market presents the worst possible conditions for any breakout or impulse trading strategy. If you use the Omega Trend Indicator under these conditions, do not be surprised if you have poor results.

Omega Trend Indicator signals are at their most reliable, when following the market in trend or swing mode. Avoid trading in periods of low liquidity. In these periods, the market is generally in a narrow range. Periods of low liquidity normally occur after the close of the NY trading session and often throughout the entire Asian session. The best signals from the indicator could be expected during the London and the NY trading sessions (8-21 GMT).

I recommend Omega Trend Indicator for the EURUSD, EURJPY, USDCHF, GBPJPY and GBPUSD pairs. As well all market instruments with a trending behavior are appropriate. You can use it on all timeframes, for scalping, day trading or long-term investing.

I strongly recommend that you adapt visually the indicator lines to the chart. The default settings are not suitable for all chart periods and all market instruments. The most important settings you should try to adapt are: Volatility_Period, TrendLine_Level, PivotLine_Level and Bar_Acceleration.

The default settings are not suitable for all timeframes and all market instruments. The most important settings you should try to adapt are: Volatility_Period, TrendLine_Level, PivotLine_Level and Bar_Acceleration.


Settings

  • Show_Arrows - show/hide the signal arrows on the chart.
  • Show_Histogram - show/hide the indicator histogram.
  • Show_PivotLine - show/hide the pivot line.
  • Alerts - activate/deactivate the signal alerts.
  • Send_Push_Notifications - activate/deactivate sending notification to mobile phones.
  • Volatility_Period - the indicator period of the volatility calculation.
  • Smooth_Factor - the smoothing factor of Omega Trend Indicator lines. The default value of the Smooth_Factor is zero, which means that smoothing is not used.
  • ..........

For more info and complete list of settings, visit the blog!

If you like my product, please write a review! I will be very grateful!

If you want to be notified of my new products, please add me as a friend!


Reviews 24
Slashev
44
Slashev 2021.04.14 17:44 
 

Сов меня цепанул своей простотой и цветовой прорисовкой, маджента с голубым на темном фоне просто отпад ;) Остальное приложится. Спасибо.

Valentin Butorin
4012
Valentin Butorin 2020.10.18 12:10 
 

Thanks for sharing. It will come in handy

Emmanuel Chukwudi Offor
1857
Emmanuel Chukwudi Offor 2020.08.21 00:26 
 

nice product i must confess, i would love to turn it into an ea, whats the possibility? pls let me know

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Filter:
Slashev
44
Slashev 2021.04.14 17:44 
 

Сов меня цепанул своей простотой и цветовой прорисовкой, маджента с голубым на темном фоне просто отпад ;) Остальное приложится. Спасибо.

Valentin Butorin
4012
Valentin Butorin 2020.10.18 12:10 
 

Thanks for sharing. It will come in handy

Martin Brown
315
Martin Brown 2020.06.15 23:29 
 

This indicator is better probably than most of the paid indicators on this site. It really gives you an excellent picture of what the market is doing.

Emmanuel Chukwudi Offor
1857
Emmanuel Chukwudi Offor 2020.08.21 00:26 
 

nice product i must confess, i would love to turn it into an ea, whats the possibility? pls let me know

lejeune Bauvil
251
lejeune Bauvil 2020.07.05 18:28 
 

I have been trading since 2006 I have bought, used many indicators. I have over 200 different templates, using different strategies, some better than others. Among them all, this indicator is not only the top 3, but it is the number one to me. It is not repaint. It is not lagging. You can modify the input and find different entries, different ways to trade it. So many ways. I found one way to trade it either on Forex, or Binary options. Thanks a lot for your contribution to the world of Forex. Your free indicator is far better than many paid or expensive indicators in this world I do not use the arrow. I completely eliminate them. I only the first bar when the indicator changes signals direction, wait for a pull black close to the previous High or low. No arrows. Only when the market changes, no repaint at all on the first bar.

Forex Trader
79
Forex Trader 2020.05.25 23:50 
 

User didn't leave any comment to the rating

Rupprecht
154
Rupprecht 2019.10.10 16:04 
 

A great indicator!

Unfortunately, in some cases, the arrows are repainted. They then change from blue to red or vice versa within the same candle. You can easily find such places in the strategy tester. That's very sad!

Whether that is still changeable in a new version?

That would be very nice!

Max Ragulan
327
Max Ragulan 2019.08.22 12:39 
 

V.GOOD

alexfx909
115
alexfx909 2019.07.28 13:53 
 

User didn't leave any comment to the rating

Danilo Dorjo
489
Danilo Dorjo 2019.05.22 16:37 
 

Nice indicator, very good entries. Thank you.

bmwaddicted
368
bmwaddicted 2019.04.19 08:40 
 

5 stars from my side! Definitely a good trend indicator. I've noticed that only one person gave 2 stars review and don't understand why.

Another good thing is that the author responds really fast and is considering users advices (for example adding email alerts in the future, which in my opinion is useful to have).

Thank you for your product!

AirOne1
1441
AirOne1 2018.12.09 23:41 
 

User didn't leave any comment to the rating

Abdullah Alrai
80025
Abdullah Alrai 2018.10.25 21:41 
 

good one

Tiberio_
167
Tiberio_ 2018.10.22 10:19 
 

User didn't leave any comment to the rating

Vincent Visoiu
792
Vincent Visoiu 2018.09.14 16:21 
 

Great indicator! I ran it in visual backtest mode to learn how to use it and it works great at giving good signals. Author is very experienced with the markets!

James Edward
175
James Edward 2018.09.13 09:25 
 

User didn't leave any comment to the rating

sunnychow
8698
sunnychow 2018.08.25 14:11 
 

Good indicator.

-dimitror-
941
-dimitror- 2018.08.20 22:58 
 

Excellent indicator.Thank you.

Mohammad Rajaur Rahman
354
Mohammad Rajaur Rahman 2018.08.10 17:38 
 

You will get profit when using with analysis.

rainwalker123
2770
rainwalker123 2018.06.15 05:18 
 

I am scalptrader and my greatest problem is, find exits at right time. Sometimes it works well sometimes it doesnt. This indicator helps me, to take measures, when price is running against me, and keep losses small, and profits bigger.

It seems to be very promising.

Providing such an indicator for free, only a successfull trader can do. Many green pips to you and of course the other traders.

Matthew Todorovski
13331
Matthew Todorovski 2018.06.30 13:20 
 

1 Star (20%) = Bad

2 Star (40%) = Undecided

3 Star (60%) = Acceptable

4 Star (80%) = Good

5 Star (100%) = Excellente!

Loai Al Moulim
237
Loai Al Moulim 2018.06.22 13:37 
 

Nice

Alexey Suvorov
824
Alexey Suvorov 2018.06.01 22:54 
 

User didn't leave any comment to the rating

Krasimir Ivanov
446
Krasimir Ivanov 2018.05.21 14:02 
 

Very good and easy to use indicator! Thank you for sharing it.

Reply to review
Version 1.2 2020.10.09
I have added additional parameter called "Prefix". The value of the parameter will be added as a prefix to all alerts/signals generated by Omega Trend Indicator.
Version 1.1 2018.06.19
Added the Send_Push_Notifications parameter. When enabled, the Omega Trend Indicator will send Push Notifications to mobile devices of the users. By default, the new parameter is disabled. You have to set it TRUE in order to use the new functionality.