Trend Continuation Factor (Average) - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

This indicator is based on MHPee's article "How Long Will a Trend Last? Trend Persistence Factors."

Because trends are an important part of the market, it is imperative that you detect them. However, this alone is not enough to identify a trend. It’s also important to be able to discern the direction of current trends.

While trends can allow you to make the most money in the shortest amount of time when you are in sync with them, they can also burden you with losses if your positions go in the opposite direction. To avoid getting stuck in this situation, I created the Trend Continuation Factor (TCF), an indicator that identifies trends and their direction.

But there are also big differences compared to the original.

You can use color changes as signals

The usual "big picture" example:

Attachment download

📎 trend_continuation_factor_aof_averages4.mq5 (11.98 KB)

Source: MQL5 #23573