PowerTrendFilter indicator calculation is based on neural network theory and is adjusted by mathematical formula created by the author of this indicator. The product has been developed specifically for confirmation of the power of a trend starting to swing or rally by PowerTrend Indicator for 5-minute timeframes. This indicator features high accuracy and is easy to use for both beginner and professional traders. It is suitable for all symbols available in MetaTrader (Forex, stock, metal, etc.).
This indicator is complementary to the PowerTrend Indicator to answer users demand for daily trade setup.
How to Use
- When valid signal from PowerTrend Indicator appears, read Filter label at two stars before Signal Valid.
- Open Data Window (Ctrl+D).
- Read Filter label.
- We need to read only the last two digits after the comma for Filter label. For example:
Star No.1, Filter = .0482.
Then, the last two digits are 82.
Star No.2, Filter = .2925.
Then, the last two digits are 25.
- period: 8.
- weight: 100.
- validation: 4.
- use default settings.
- Find the values 82 and 25 at Power label (PowerTrend Indicator) after Star No.1 until candle Signal Valid appears.
- If the values are found, then determine the color of the candle. Red = Weakness Sell or Green = Weakness Buy.
- Weakness Sell means to open BUY trade.
- Weakness Buy means to open SELL trade.
- If the value 82 or 25 is not found, do not trade.
- alert - set pop-up notification when the signal appears: true - Alert on, false - Alert off.
- candlecount - how many candles are counted on the chart.