Smart Trend Detector MT5
- Indicators
- Mohamed Elyes Hantous
- Version: 1.1
Market Trend Levels Detector
The Market Trend Levels Detector is an MQL5 indicator designed to help traders visualize dynamic market trends and potential reversal points. It operates by calculating two exponential moving averages (EMAs)—a fast EMA and a slow EMA—to assess the current trend direction. Key features include:
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Dynamic Trend Fill:
The area between the fast and slow EMAs is filled with different colors depending on the market regime. When the fast EMA is above the slow EMA (suggesting bullish momentum), one color (e.g., green) is used, and when it is below (indicating bearish momentum), another color (e.g., red) is applied. -
Alert Functionality:
The indicator is equipped with an alert system that notifies the trader when a new (recent) crossover occurs. This ensures that you receive a notification only for the latest signal, reducing noise from multiple alerts on the same event. -
Customization:
Users can customize key inputs such as the periods for the fast and slow EMAs as well as the fill colors, making the tool adaptable to various trading styles and market conditions.
Overall, the Market Trend Levels Detector serves as a visual aid to highlight support/resistance areas and trend changes, helping traders to make more informed decisions by identifying dynamic levels in the market.