This advanced trend detection MT4 indicator uses complex algorithm relationship between RSI and Moving Averages that can be used as the supporting tool or system.
The values obtained from RSI indicator are used in multiple Moving Averages calculation to catch the trend and neutral zones. This system provides the signals formed by the interaction of three Exponential Moving Averages (EMA) and RSI.
The signals appeared in the histogram with red, blue, and yellow colors. When the histogram is blue, it means the trend is up and we can buy. The exit is perofrmed after yellow or red color appear. The opposite (red bar) is true for sell orders. The yellow color shows that the market is neutral and we do not know where it moves next. It is better we do not trade at neutral trend (at yellow color).
- Unique trend detection that avoids whipsaws and uncertain market noise.
- Good trending or neutral zones: red color is for downtrending, blue color is for uptrending, and yellow color is for non-trending (neutral or range).
- Good for scalper trading.
- No repaints.
- No backpaints.
- No recalculations.
- Signals are generated strictly on the "Close of the each bar".
- Compatible with an Expert Advisor development.
- RSI_Period: Period of days for RSI indicator calculation.
- Fast_RSI_MA: Period days of fast Moving Average for RSI.
- Slow_RSI_MA: Period days of slow Moving Average for RSI.
- RSI_MA_Method: Moving Average method for RSI data (default is to EMA mode).
- -RSI_MA_AppliedPrice: Applied price for RSI (default is to Close price).
- Up_Color, Down_Color, Neutral_Color: uptrend or downtrend or neutral range market colors.
- Up_Width, Down_Width, Neutral_Width: histogram width.
It has some other options for chart color display and alerts (popup, notification and email alerts) with disable and enable options.