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Omega Trend Indicator

FREE

Published: 11 May 2018

Current version: 1.2

Omega Trend Indicator

4.69

Indicators
Lachezar Krastev
Version: 1.2
Updated: 9 October 2020

The Omega Trend Indicator is an advanced tool that has been specifically designed to detect market trends early, and follow them efficiently. The indicator draws two lines. The main (thicker) Trend Line represents the presumed lower or upper volatility limits of the current market trend. A break in the main Trend Line indicates a potential reversal or shift in the movement of the trend. The Trend Line also indicates the best point to place a stop loss order. In Omega Trend Indicator, the Trend Line indicates the exact point of the initial stop loss, as well as where the trailing stop is moving. For uptrends the Trend Line is blue, for downtrends it is pink (see the first image below).

There is an EA which use Omega Trend Indicator signals for trading. It is Omega Trend EA. You can check it here: https://www.mql5.com/en/market/product/56222

Omega Trend Indicator MT5 version: https://www.mql5.com/en/market/product/121966

The secondary (thinner) Pivot Line represents the presumed Pivot level of the market. Breaks in this line can be used for short-term/scalping trades following the current market trend indicated by the Trend Line.

Although the Omega Trend Indicator’s signals are clear and easy to interpret (see the second image below), there are a few steps you should follow to filter out false trading signals. First, you need to be able to recognize a choppy market and try to ignore it. A choppy market is a market that is highly volatile but results in no overall price movement, in either direction. These price spikes and sharp rebounds from the range borders can generate a series of poor signals. In the third image below, you can see an example of a choppy market. A choppy market presents the worst possible conditions for any breakout or impulse trading strategy. If you use the Omega Trend Indicator under these conditions, do not be surprised if you have poor results.

Omega Trend Indicator signals are at their most reliable, when following the market in trend or swing mode. Avoid trading in periods of low liquidity. In these periods, the market is generally in a narrow range. Periods of low liquidity normally occur after the close of the NY trading session and often throughout the entire Asian session. The best signals from the indicator could be expected during the London and the NY trading sessions (8-21 GMT).

I recommend Omega Trend Indicator for the EURUSD, EURJPY, USDCHF, GBPJPY and GBPUSD pairs. As well all market instruments with a trending behavior are appropriate. You can use it on all timeframes, for scalping, day trading or long-term investing.

I strongly recommend that you adapt visually the indicator lines to the chart. The default settings are not suitable for all chart periods and all market instruments. The most important settings you should try to adapt are: Volatility_Period, TrendLine_Level, PivotLine_Level and Bar_Acceleration.

The default settings are not suitable for all timeframes and all market instruments. The most important settings you should try to adapt are: Volatility_Period, TrendLine_Level, PivotLine_Level and Bar_Acceleration.

Settings

Show_Arrows - show/hide the signal arrows on the chart.
Show_Histogram - show/hide the indicator histogram.
Show_PivotLine - show/hide the pivot line.
Alerts - activate/deactivate the signal alerts.
Send_Push_Notifications - activate/deactivate sending notification to mobile phones.
Volatility_Period - the indicator period of the volatility calculation.
Smooth_Factor - the smoothing factor of Omega Trend Indicator lines. The default value of the Smooth_Factor is zero, which means that smoothing is not used.
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For more info and complete list of settings, click here to visit the blog!

If you like my product, please write a review! I will be very grateful!

You can check out my other products in my profile!

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3331

elite luis 2023.03.31 13:47 #

Is nice Author giving free, but Author can you please kindly provide an option to hide the logo because is blocking my other indicator? please help? We don't mind to pay $30 for a logo free version please publish as a paid product I'll pay $30 for you to remove the logo please help ok bro?

592

ali-haider 2023.03.14 15:39 #

great

451

Sebastian Kaestner 2022.12.28 18:11 #

A very good indicator that also works in the m1 timeframe, as long as you also take into account the trend in the m5 and m15, as well as pivot

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The Omega Trend Indicator is an advanced tool that has been specifically designed to detect market trends early, and follow them efficiently. The indicator draws two lines. The main (thicker) Trend Line represents the presumed lower or upper volatility limits of the current market trend. A break in the main Trend Line indicates a potential reversal or shift in the movement of the trend. The Trend Line also indicates the best point to place a stop loss order. In Omega Trend Indicator, the Trend L

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MACD Trend EA is based on the popular forex indicator MACD (Moving Average Convergence Divergence). It is fully automated trading expert advisor and completely FREE! As the name suggests, this expert advisor uses a trend-following strategy and uses the MACD indicator to detect the beginning of uptrends and downtrends. MACD Trend EA Top Features - Trend Following Strategy - Money Management - Advanced Exit System + TP and SL - Trailing Stop System - Broker protection System - Custom Magic

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BF News Trader EA is the most advanced FREE tool for high impact news trading on the market. Usually, when a major news event occurs, the price spikes in one or both directions and this creates an opportunity for short-term scalping. If the magnitude of the price movement is big enough, the trader could gain 20, or in some rare cases even more than 100 pips in a few seconds. Of course, nothing is perfect and the liquidity issues in such high volatility moments could lead to spread increase, exe

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Flex Recovery EA is meant to be almost all the time in the game – everything, but not a boring strategy. It is a countertrend strategy taking trades on the borders of a market volatility channel, combined with highly effective loss compensating algorithm. This strategy is suitable for traders with high risk profile … do not forget that “highly profitable – low risk strategy” is an oxymoron concept. If you want to beat the market at any coast, you must be all in, using aggressive money management

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Market Insider is an excellent indicator for scalping the trend and also trading market breakouts and reversals. It is based on a ATR measured volatility channel and the CCI indicator. The green trend line and green bars indicates an uptrend and the red trend line and red bars indicates a downtrend. An intensive price breakout of some of the trend lines indicates a market breakout and a potential new opposite trend. In choppy-range behaving market and in low liquidity conditions the breakout sig

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Trend Power Bot is a unique combination between highly efficient breakout detecting algorithm and very effective drawdown compensation money management. The money management could be considered a martingale, but used with low risk, the strategy survives 20+ years trading with acceptable drawdown. The default /safe/ risk is 0.2% (0.02 lots per $10k account equity) and this is extremely safe. However, if you decide to try your luck, you can bump the risk up to 1% (0.1 lot per $10k account equity)

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Bollinger Bands Tunnel EA is a free expert advisor developed with the idea to be useful for traders who love to trade using the popular indicator Bollinger Bands. Bollinger Bands Tunnel EA has very simple trading logic. It trades inside of the Bollinger Bands indicator. When the price crosses the Bollinger Bands upper line and reverses, the EA opens a SELL position. When the price crosses the Bollinger Bands lower line and reverses then the EA opens a BUY position. The algorithm of closing the

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PROMOTION: BUY 1 GET 1 FREE! --> Buy Smart Scalper PRO with -50% OFF + 1 FREE EA! NOTE: Promo price: $197 ( Regular Price: $397) - The offer ends soon! For more info about the promotion and possible free EAs, contact me! Smart Scalper PRO is the PRO version of the popular scalper BF Smart Scalper EA with a lot of new features/systems and improvements. Smart Scalper PRO is based on the most proven trading principle since the markets exist – enter the market in the direction of a strong market i

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Filter:

3331

elite luis 2023.03.31 13:47 #

592

ali-haider 2023.03.14 15:39 #

great

451

Sebastian Kaestner 2022.12.28 18:11 #

A very good indicator that also works in the m1 timeframe, as long as you also take into account the trend in the m5 and m15, as well as pivot

430

bmv72 2022.12.02 03:26 #

Very good indicator.. Nice entry... Thanks to the author who is kind enough to give it for free

Daniel Santoso 2022.08.17 08:23 #

Good

141

Dohaut Hermann Bonnahin 2022.02.03 18:43 #

Waouh, j'ai eu le djakpot, good 😊. Une bière 🍻 pour toi

step1208 2022.01.24 20:00 #

The best! Do you have it for mql5?

304

sei-bert 2022.01.20 11:24 #

Запаздывает .

824

adnanadnan 2021.05.30 13:16 #

deleted

Slashev 2021.04.14 17:44 #

Сов меня цепанул своей простотой и цветовой прорисовкой, маджента с голубым на темном фоне просто отпад ;) Остальное приложится. Спасибо.

4124

Valentin Butorin 2020.10.18 12:10 #

Thanks for sharing. It will come in handy

2186

Emmanuel Chukwudi Offor 2020.08.21 00:26 #

nice product i must confess, i would love to turn it into an ea, whats the possibility? pls let me know

626

lejeune Bauvil 2020.07.05 18:28 #

I have been trading since 2006 I have bought, used many indicators. I have over 200 different templates, using different strategies, some better than others. Among them all, this indicator is not only the top 3, but it is the number one to me. It is not repaint. It is not lagging. You can modify the input and find different entries, different ways to trade it. So many ways. I found one way to trade it either on Forex, or Binary options. Thanks a lot for your contribution to the world of Forex. Your free indicator is far better than many paid or expensive indicators in this world I do not use the arrow. I completely eliminate them. I only the first bar when the indicator changes signals direction, wait for a pull black close to the previous High or low. No arrows. Only when the market changes, no repaint at all on the first bar.

711

Martin Brown 2020.06.15 23:29 #

This indicator is better probably than most of the paid indicators on this site. It really gives you an excellent picture of what the market is doing.

Forex Trader 2020.05.25 23:50 #

User didn't leave any comment to the rating

154

Rupprecht 2019.10.10 16:04 #

A great indicator!

Unfortunately, in some cases, the arrows are repainted. They then change from blue to red or vice versa within the same candle. You can easily find such places in the strategy tester. That's very sad!

Whether that is still changeable in a new version?

That would be very nice!

329

Raj Max 2019.08.22 12:39 #

V.GOOD

115

alexfx909 2019.07.28 13:53 #

User didn't leave any comment to the rating

394

Danilo Dorjo 2019.05.22 16:37 #

Nice indicator, very good entries. Thank you.

372

bmwaddicted 2019.04.19 08:40 #

5 stars from my side! Definitely a good trend indicator. I've noticed that only one person gave 2 stars review and don't understand why.

Another good thing is that the author responds really fast and is considering users advices (for example adding email alerts in the future, which in my opinion is useful to have).

Thank you for your product!

1 2

Version 1.2 2020.10.09

I have added additional parameter called "Prefix". The value of the parameter will be added as a prefix to all alerts/signals generated by Omega Trend Indicator.

Version 1.1 2018.06.19

Added the Send_Push_Notifications parameter. When enabled, the Omega Trend Indicator will send Push Notifications to mobile devices of the users. By default, the new parameter is disabled. You have to set it TRUE in order to use the new functionality.