PowerTrend - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The PowerTrend indicator determines trend strength and direction.
Determine the histogram position on the current bar relative to zero to obtain the current market trend direction. The histogram bar color indicates trend strength. The presence of black only means that the trend is very weak or non-existent. Red means a new trend is emerging. Adding blue to the histogram bars shows a moderate trend, while green indicates a strong completed trend.
This indicator was first implemented in MQL4 abd, published in the code base of mql4.com on August 28, 2007.
Attachment download
📎 powertrend.mq5 (8.76 KB)
Source: MQL5 #508
PowerTrend - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
PowerTrend - MetaTrader 5 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 only on titles or short-term profit descriptions.
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