TrendValue - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The trend indicator is NRTR ( Nick Rypock Trailing Reverse ).
The indicator is very flexible and can be configured for different tasks, for example, receiving market exit signals, or can be used with other indicator signals. It helps prevent taking a position against the trend. It previously signaled MAA crossing or the Smoothed Convergence and Divergence Moving Average .
The technical indicator value used in the Attenuated Total Reflection indicator is that it becomes more sensitive during consolidation, which is very convenient when the market exits the consolidation significantly or there is a breakout. The indicator is set to 5 minutes by default.
The indicator was first implemented in MQL4 and published in the code base on mql4.com on February 25, 2010.
Attachment download
📎 trendvalue.mq5 (11.44 KB)
Source: MQL5 #606
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