The Five Stars Trend indicator evaluates the trend on selected trading instruments and timeframes in the form of a five-star rating, and also gives recommendations for entering and exiting the market.
Key features of Five Stars Trend
- Allows you to flexibly customize your interface: background color, title, font size.
- Ability to manually set up to 10 own sets of trading instruments and timeframes.
- Set and edit the rating calculation system yourself.
How to use the indicator and recommendations
After setting the indicator, you need to monitor the direction of the trend and the number of stars.
| Trend Direction | Star Rating | Buy | Sell |
|---|---|---|---|
| Uptrend | 1 Star | No | Out |
| Uptrend | 2 Stars | No | Out |
| Uptrend | 3 Stars | Wait | |
| Uptrend | 4 Stars | In | |
| Uptrend | 5 Stars | In | |
| Downtrend | 1 Star | No | Out |
| Downtrend | 2 Stars | No | Out |
| Downtrend | 3 Stars | Wait | |
| Downtrend | 4 Stars | In | |
| Downtrend | 5 Stars | In |
Five Start Trend Options and Settings
Visual settings
- Font Size - font size in the indicator.
- Caption color - color of the title bar of the indicator window.
- Back color - background color of the indicator window.
- Uptrend color - the color of the uptrend.
- Downtrend color - the color of the downtrend.
- Symbols for monitoring - a list of trading tools for trend tracking. No more than 10, separated by commas. The names must match the names of the broker tools.
- Timeframes for monitoring - a list of timeframes of previously selected trading instruments. No more than 10. They will correspond to the number of the selected instrument.
Setting a trend indicator
- Trend period - the period of the trend indicator. The higher the more sensitive.
- Smoothing period - indicator smoothing period. The higher, the smoother the transitions of the trend.
- Shift - offset tracking indicator. 0 - current bar, 1 - previous, etc.
- 1 Star ... 5 Stars - editable thresholds for displaying trend strength values.
