Trend Strength Index - MetaTrader 5 Script - MQL5 #23593 - MT4/MT5 Resources
It was created by MHPee. The definition (in a nutshell) is as follows:
To calculate the 30-day Trend Intensity Index (TII), follow these steps:
You can use color changes as signals
Attachment download
📎 trend__intensity_index.mq5 (10.23 KB)
Source: MQL5 #23593
Trend Strength Index - MetaTrader 5 Script - MQL5 #23593 Usage and Filtering Advice
Trend Strength Index - MetaTrader 5 Script - MQL5 #23593 is a resource related to trading scripts. 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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