Diamond Trend

Indicator which identifies Trend and also buy/sell opportunities. Use for entries aligned to the Trend. 

Although Diamond Trend is very accurate identifying entry points, it is always recommended to use a support indicator in order to reconfirm the operation.

Remind to look for those Assets and Timeframes which best fit to your trader behavior/need... Valid for Scalping and Long Term operations.

Please, set up a Bars Chart to be able to visualize the indicator properly... 

...And remind to give DT some stars, share your reviews, suggestions and include me in your MQL5 contact list to be up to date about News or Updates! 


Inputs:

EMA Value for Long Term Trend -> Long Term Trend value to set up

Control Bar Period -> Period you would need to control bars variation. The lowest the more volatility... 

Control Level (1-5)-> Bars Control as per the trend... The lowest the more stability in those bars which moved under the actual trend.

Change Level (1-5)-> Bars Control breaking the trend... The highest the most a bar would need to change the trend.


Main output values which are provided by Diamond Divergence into the Data Window (If you want to use these in your own EA):

Trend: If the actual overall trend is Bullish or Bearish (values would be 1 or -1, respectively)

Bar Trend: if the Bar is Bullish or Bearish into the trend (values would be 1 or -1, respectively)


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A symmetrical triangle chart pattern represents a period of contraction & consolidation before the price is forced to breakout to the upside or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend. Get the dashboard to monitor all instruments and time frames you trade for symmetrical triangle patterns at once! https://www.mql5.com/en/market/product/69169/ MT5 Version Available
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