Trend Meter MT5
- Indicatori
- Filip Valkovic
- Versione: 1.80
- Aggiornato: 29 aprile 2024
- Attivazioni: 20
Very powerful indicator! converted from TradingView with upgraded alerts and added notifications. Ideal use in EAs.
Use as a supplementary Indicator to confirm your entries, but it is as good on it's own.
The indicator consists of 3 different Trend Meters and a 2 Trend Bars which are used to confirm trend
How to Use:
The more Trend meters are lit up the better =>>
-more GREEN COLOR at one bar means more confirmation to open buy trade,
- more RED COLOR signals for one bar = more confirmation for sell
This is quite complex indicator but it doesn't have to be complicated, Trend METER is offering lot of different options for analyzes
so choice of best suitable combination depends on your targeted symbol or strategy
INPUT OPTIONS
-there are 3 dot trends and 2 bar trends. Then all of these are combined into 2 main dot trends at the top
First two input parameters show :
WT = Wave Trend Filtered by Trend = shows signal when all 8 different 'moving average' calculations confirms same market trend
(*! WT takes longer time to load or sometimes fails to load at start(adding indicator to chart) => try changing timeframe few times until WT shows output on desired chart)
TM = All 3 Trend Meters Align = shows signal when all 3 'dot trends' show same new aligned trend
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options for dot trend:
1. MACD cross 12_26_9
2. MACD cross 8_21_5
3. Mom and Dad cross TopDogTrading
4. RSI signal line cross-RSI 13 signal 21
5. RSI 13_50
6. RSI 5_50
7. Trend Candles
8. MA cross
(9. turn off)
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options for bar trend:
1. MA cross (ma1 & 2 for topbar, ma3 & 4 for bottom bar)
2. MA direction - fast - MA1 and MA2
3. MA direction - slow- MA1 and MA2
4. MA direction - fast - MA3 and MA4
5. MA direction - slow- MA3 and MA4
(6. turn off)
after that there are options for these 4 different MA calculations
Alerts: -are sending clear BUY or SELL signal after selected rules shows colors match
-turn on/off
-notifications on/off = mobile app alerts
Alert Combination: - these settings affect how many rules have to be passed in order to send alert:
-WT = wave trend must be active (this is supporting or main rule)
-TM = all 3 plots must change into same color (this is MAIN SIGNAL and should be the main alert, or the only one active)
-2 bars = bars must have the same color (this is supporting rule = cannot be the only one active)
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*If all 3 rules are active, every indicator output must be the same color in order to generate alerts
Supporting Indicators:
rsi1 parameters
rsi2 parameters
macd1 parameters
macd2 parameters
Note: it is very resource heavy indicator for metatrader so I wouldn't recommend using on more than 5 charts at the same time.
