Market / MetaTrader 4 / Indicators /

Simple trend indicator

50 USD

Demo downloaded: 136

Published: 31 May 2018

Current version: 1.0

Simple trend indicator

Indicators
Nikolay Yurgandzhiev
Version: 1.0
Activations: 5

This indicator serves to depict the beginning of the trend (these are the green and red points of the graph).

It is called simple because there are very few setup parameters, but it is essentially a set of rules - it is used a combination of WATR and a set of MAs. By combining their readings, it determines the direction of the trend.

How to use

When there are green points on Main line of indicator, the trend direction is UP and you can BUY.

When there are red points on Main line of indicator, the trend direction is DOWN and you can SELL.

When the Warning line is present, this is signal that trend has a high probability to end or that corrections will occur. If the Warning line crosses the Main line, this is signal that the previous direction of trend is over and direction will change.

Main line can be used as support/resistance levels and as trailing stop loss of orders. Indicator can be used at any timeframes, but at M1 it is too often triggered. It can be used with any other indicator and can serve as a basis for building a trading system.

Parameters

How many history to process - select 0 for full history to be process but long time will need to start.
Alerts - switch on/off sound/push alerts when trend direction is changed.

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