BeST Chande TrendScore Indicator MT5

BeST_Chande TrendScore Indicator points the start of a trend with high degree of accuracy and it is amazing for scalping on the 1min timeframe. It is also a simple way to rate trend strength. It indicates both the direction and strength of a trend and can be easily combined with various trend-following, swing and scalping strategies.As of a trend’s direction and strength a value of +10 signals a strong uptrend while a value of -10 signals a strong downtrend. Generally a positive score shows an upward trend bias while a negative score shows a downward bias. The TrendScore is pinned to +10 during major portions of the upward moves and to –10 during major portions of the upward moves while it is quick to change directions during sideways periods.

TrendScore  Indicator

  • is great for trend trading
  • is great for swing trading
  • is great for scalping
  • does not repaint
  • works on any timeframe
  • works on any Symbol
  • is simple and easy to use

TrendScore  Indicator  was devised by Tushar S. Chande and he explained all about its use at his article in Stocks & Commodities:  “Rating Trend Strength”.

TrendScore Indicator can be traded in many ways. The approach we choose depends on our trading style:

  • You can use the zero crossing as an early signal and then buy when the trendscore becomes positive or equal to +10 and sell when it becomes negative or equal to –10.
  • Also as a filter you can wait one to three bars after the TrendScore reaches +10 or -10 before buying (+ 10) or selling (-10).
  • Or you can combine the trendscore with a moving average, trading an upward or downward crossover.
  • Another variation would be to go long after the trendscore crosses from -10 to above +5 and go short after the trendscore falls from +10 to below 5.

You could also combine TrendScore with other indicators of trend strength. For example, if you combine it with the ADX indicator Trendscore would provide an indication of direction, while the ADX can provide additional information about the trend's strength. You could also for example  use H1 data to calculate a trend's score and make trades based on a lower timeframe like M15,M5 or M1 etc.

Inputs

The only Input parameters of the indicator are the following: 

  • Select Color of TrendScore Indicator
  • Select Width of TrendScore Indicator 

For EA Developers

 

TrendScore    Buffer = 1
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- Real price is 80$ - 45% Discount (It is 45$ now) Contact me for extra bonus   indicator, instruction or any questions! - Lifetime update free - Non-repaint - Related product: Gann Gold EA - I just sell my products in Elif Kaya Profile, any other websites are stolen old versions, So no any new updates or support. Advantages of  M1 Scalper Pro  Profitability: M1 Scalper Pro is highly profitable with a strict exit strategy. Frequent Opportunities: M1 Scalper Pro  takes advantage of numerous smal
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The Berma Bands (BBs) indicator is a valuable tool for traders seeking to identify and capitalize on market trends. By analyzing the relationship between the price and the BBs, traders can discern whether a market is in a trending or ranging phase. Visit the [ Berma Home Blog ] to know more. Berma Bands are composed of three distinct lines: the Upper Berma Band, the Middle Berma Band, and the Lower Berma Band. These lines are plotted around the price, creating a visual representation of the pric
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Let me introduce you to an excellent technical indicator – Grabber, which works as a ready-to-use "All-Inclusive" trading strategy. Within a single code, it integrates powerful tools for technical market analysis, trading signals (arrows), alert functions, and push notifications. Every buyer of this indicator also receives the following for free: Grabber Utility for automatic management of open orders Step-by-step video guide: how to install, configure, and trade with the indicator Custom set fi
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