Power Trend Indicator for MetaTrader 5 Free Download - from [Trading Finder]

Power Trend Indicator is a valuable tool for MetaTrader 5 that enables traders to detect the direction and strength of market trends.

This oscillator uses four colors to display trend strength. Red in the histogram indicates a change in trend, blue indicates a weak trend, green indicates a strong trend, and black indicates a neutral trend. This trading tool is great for detecting trend reversals and sudden trend changes.

Trend Power Oscillator Specifications

The specifications of the trend strength detection indicator are as follows:

Indicator overview

The Power Trend Oscillator is an effective tool for identifying trend direction (trend) and strength, which traders can see through the different colored histograms.

The indicator has two phases: positive phase (above the zero line) and negative phase (below the zero line) . It shows an upward trend in the positive phase and a downward trend in the negative phase.

Upward trend of indicators

The chart below shows the New Zealand Dollar/USD (NZD/USD) currency pair on the 4-hour time frame. In the highlighted area, the histogram transitions from negative to positive, with the red histogram indicating a change in trend. Additionally, the green histogram provides a signal of a strong bullish trend.

Indicator downtrend

The chart below shows the GBP/USD currency pair on the 1 hour time frame. In the highlighted area, the histogram transitions from positive to negative, with the red histogram indicating a change in trend. Additionally, the green histogram indicates a strong Bearish Trend.

Trend Strength Detection Indicator Settings

The Trend Power Oscillator settings are as follows:

• PT_chart: Histogram candlestick integral is equal to 5
• PT_period: indicator period is equal to 1

Conclusion

The Power Trend indicator is an excellent tool for detecting changes and identifying strong and weak trends.

This oscillator can be used with a variety of analysis styles and tools, such as support and resistance levels , price channels, and divergence, to further confirm trend direction and reversal points.