The Identify Trend PRO indicator is an advanced version of the popular Identify Trend indicator, to which three new modes have been added. In each of these modes, unique averaging algorithms developed by the author are used, which have low delays and, at the same time, are the most appropriate false signal filters for the foreign exchange market.
The Identify Trend PRO indicator, as well as the Identify Trend, allows very accurately and, most importantly, with a small delay to establish the optimal entry points in the positions, as well as the beginning of the true trend movement. Such capabilities of the indicator allow it to be effectively used both for trading by scalper strategies and using long-term trading strategies.
As averaging, Identify Trend used simple averaging by means of a moving median
4) XM =( Max ({ x })+ Min ({ x }))/2.
The following three more promising averaging algorithms are used in the Identify Trend PRO indicator
1) XC=XF - XS + SMMA
2) XF=<x/SMMA>*SMMA
3) XS=<x*SMMA>/SMMA,
where x is the points of history, <...> - is the averaging procedure, the algorithms of which are presented in detail in the following screenshot.
Indicator readings are visual, extremely simple and do not require comments. The blue line of the indicator marks an uptrend, the golden line is flat, and the red line is the downward trend. Accordingly, entry points for Buy, when the red or gold line is replaced by blue, and for Sell- on the contrary, when the blue line or gold line is replaced by red.
The indicator has all kinds of alerts. The alert is activated when the indicator indications (for the trend direction) coincide on the last two bars.
Indicator settings.
- Price type - applied price. Values: Close price, Open price, High price, Low price, Median price ((high + low)/2 - default), Typical price ((high + low + close)/3), Weighted price ((high + low + 2*close)/4).
- The averaging method - Values: XC=XF - XS + SMMA (default), XF=<x/SMMA>*SMMA, XS=<x*SMMA>/SMMA, XM=(Max({x})+Min({x}))/2.
- The averaging period - averaging period. Values: any integer (3 default).
- The Signal method - Type of trading signal alert. Values: No, Send alert, Print (in expert), Comment (in chart), Sound + Print, Sound + Comment, Sound, Push + Comment, Push, Mail + Comment, Mail.
Screenshots.
