This advanced trend detection MT4 indicator uses complex algorithm relationship between Moving Averages and Correction of trend movement in the equation that can be used as the supporting tool or system.
It calculates the multiple Moving Averages with correction of movement with Correction_Period in period range defined by MA_Period for catching the movement changes and calculating their speed. It shows a trend with closed up dots and lines between them.
- Unique trend detection that avoids whipsaws and uncertain market noise.
- Good trending 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.
- MA_Period: Number of period days of Moving Average indicator calculation. It can be set to any number except 0.
- Correction_Period: Correction period of the Moving Average range (has to be greater than MA_Period).
- Correction_Coef: Correction coefficient of the Moving Average range (proper values from 1 to 2).
- MA_Method: Moving Average method mode for correction calculation (default is LWMA mode).
- MA_AppliedPrice: Applied price for Moving Average (default is Close price).
- Up_Color, Down_Color, UpHisto_Color, DownHisto_Color, and Dot_Color: line and dot colors.
- Up_Width, Down_Width, UpHisto_Width, DownHisto_Width, and Dot_Width: lines and dot width.
It has some other options for displaying chart colors and alerts (popups, notifications and email alerts).