Trend Strength Average - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Typically trend strength indicators use oscillator-based indicators to assess trend strength.
This version changes that. It can use some of the 4 general average types and plot them on the main chart. This way you can see the trend assessment estimated by the Trend Strength algorithm directly on the price itself.
Attachment download
📎 trendsstrength_average.mq5 (8.17 KB)
Source: MQL5 #20749
Trend Strength Average - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Trend Strength Average - 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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