Trend Continuation Factor - MetaTrader 5 Script - MQL5 #20733 - MT4/MT5 Resources

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

Since trends are an important part of the market, you must be able to detect them. However, simply identifying trends is not enough. It is also important to be able to determine the direction of current trends.

While a trend can allow you to make the most money in the shortest amount of time when you are in sync with it, it can also cause you to incur significant losses if your position goes in the opposite direction. To avoid falling into this situation, I created the Trend Continuation Factor (TCF), an indicator that identifies trends and their direction.

Some typical additions of MetaTrader 5 are used in this version of the indicator (the use of filled colored areas to make trend changes easier to spot).

Attachment download

📎 trend_continuation_factor.mq5 (9.31 KB)

Source: MQL5 #20733