Trend Strength Indicator - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The indicator detects trends based on a 5-period simple moving average: it displays green bars if there is an upward trend, red bars if there is a downward trend, and yellow bars if there is a weak trend.
The trend is detected by dividing the moving average by the previous value, so if it is greater than 1, there is an upward trend, and if it is less than 1, there is a downward trend.
If the absolute difference between 1 and this ratio is less than the tolerance specified in the input level, a flat trend is displayed. You can improve the performance of this indicator by changing the tolerance, type of moving average and its period.
Attachment download
📎 trendsstrength.mq4 (4.03 KB)
Source: MQL5 #11515
Trend Strength Indicator - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Trend Strength Indicator - MetaTrader 4 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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