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Omega Trend Indicator

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, click here to visit the blog!

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

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Reviews 25
Slashev
45
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
4042
Valentin Butorin 2020.10.18 12:10 
 

Thanks for sharing. It will come in handy

Emmanuel Chukwudi Offor
1870
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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Informational indicator which shows: Swap Price under/upper Open for every Time Frame Spread Time to close the current candle Broker Time Net Change: delta in percentage from Open (MN-W1-D1) Tick Value Volumes Info for every trades open: Lots Breakeven Profit Buy-Profit Sell Equity Symbol Positive values are green and negative values are red (modifiable in input). Inputs: View BE line (enable/disable) View all Symbol (shows the list of symbol) Color (for every text) Line Color (for BE line)
50 USD
Initial Balance Target Strategy
Initial Balance Target Strategy
Chantal Sala
Initial Balance Target Strategy is an indicator based on Fibonacci Levels. Its graphics flexibility allows you to adapt very well to your strategies or Trading System setting it with levels in input. The analysis of the time range allows replication of strategies as London Breakout and Kiss . The indicator is fully customizable, you can change colors, texts and percentages of Target. The simplicity and manageability of this indicator makes it an useful tool for all Intraday Trader . Input Valu
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True Currency Strength Meter
True Currency Strength Meter
Emir Revolledo
MAJOR CHANGES HAS BEEN MADE. Parameter description will be changed. EXPECT ANOTHER UPDATE BEFORE JUNE ENDS. PRICE WILL GO UP AFTER THE FINAL UPDATE. True Currency Meter with Email and SMS push notifications! Have you ever wondered why would some pairs would move more than others, and 100 pips on EURGBP is bigger than 100 pips on EURUSD? And during the news, some would move 200 pips but some would only move 150 pips? This is the key to the newly developed "28 pairs" True Currency Strength Met
50 USD
Real Time Currency Valuation
Real Time Currency Valuation
Igor Korepin
The indicator displays strength of eight major currencies and also can calculate strength of any other currency, metal or CFD. You will not need to study dozens of charts to determine strong and weak currencies, as well as their current dynamics. The picture of the whole currency market for any period can be viewed in a single indicator window. Built-in tools for monitoring and controlling the situation will help you not to miss out on profits. Main features of the indicator It forms indexes o
85 USD
PipTick Pairs Spread MT4
PipTick Pairs Spread MT4
Michal Jurnik
PipTick Pairs Spread indicator has been developed for the very popular strategy known as pairs trading, spread trading or statistical arbitrage. This indicator measures the distance (spread) between prices of two directly (positively) correlated instruments and shows the result as a curve with standard deviations. So, any trader can easily identify when the instruments are too far apart and use this information for trade opportunity. How to Use? The best results are obtained when the trade is
67 USD
Pairs Arbitrage Correlation
Pairs Arbitrage Correlation
Vladimir Tkach
The cross-correlation indicator calculates the relationship between the specified pairs for the previous period. Automatically selects the instruments with the highest and the lowest correlation, and then simulates trading on the selected pairs on the same test period. Then indicator displays the pairs that have shown the best trading results. Visualizes the PAC (Pairs Arbitrage Correlation) criterion for the pairs selected by the trader. The signal to open trades is set by the PAC levels. When
50 USD
Best And Worst Dashboard
Best And Worst Dashboard
Chantal Sala
Best and worst Dashboard was born from the idea to have a panel that includes all the symbols in a chart. It is very importance to understand which symbols are both positive and negative. In the past, we realized the single indicator Best and Worst ( https://www.mql5.com/en/market/product/11784 ), now thanks to the upgrading of the Metatrader the dashboard displays all the instruments simultaneously. A great revolution. This Dashboard is able to calculate performance at any time frame and clicki
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PipTick VSA MT4
PipTick VSA MT4
Michal Jurnik
PipTick VSA is based on the original Volume Spread Analysis method. It was designed for quick and easy recognition of VSA patterns. Even though this indicator looks very simple, it is the most sophisticated tool that we have ever made. PipTick VSA indicator is a really powerful analytical tool that generates very reliable trading signals. Because it is very user friendly and understandable, it is suitable for every type of trader, regardless of their experience. What Is VSA? VSA (Volume Spread
97 USD
PipTick Effort Index MT4
PipTick Effort Index MT4
Michal Jurnik
PipTick Effort Index indicator is based on the work of Karthik Marar, volume spread analysis trader. It compares the change in price (Result) to the size of volume (Effort) for a certain period of time. By comparing the effort and result we can get more information about the future price movement. Both values are normalized and converted to scale of 0-100% based on a selectable look back period. The law of effort and result The law of effort vs. result states that the change in price of a tradin
67 USD
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Filter:
adnanadnan
838
adnanadnan 2021.05.30 13:16 
 

deleted

Slashev
45
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
4042
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
1870
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
266
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!

Gia LaCroix
327
Gia LaCroix 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
499
Danilo Dorjo 2019.05.22 16:37 
 

Nice indicator, very good entries. Thank you.

bmwaddicted
390
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
1440
AirOne1 2018.12.09 23:41 
 

User didn't leave any comment to the rating

Abdullah Alrai
81850
Abdullah Alrai 2018.10.25 21:41 
 

good one

Tiberio_
166
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
171
James Edward 2018.09.13 09:25 
 

User didn't leave any comment to the rating

sunnychow
8695
sunnychow 2018.08.25 14:11 
 

Good indicator.

-dimitror-
941
-dimitror- 2018.08.20 22:58 
 

Excellent indicator.Thank you.

Mohammad Rajaur Rahman
351
Mohammad Rajaur Rahman 2018.08.10 17:38 
 

You will get profit when using with analysis.

rainwalker123
2796
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
13224
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
236
Loai Al Moulim 2018.06.22 13:37 
 

Nice

Alexey Suvorov
821
Alexey Suvorov 2018.06.01 22:54 
 

User didn't leave any comment to the rating

Krasimir Ivanov
491
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.