Trend Continuation Factor - Jurik Smoothing - 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."

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 additions: As with the typical colored areas of MetaTrader 5, the easier to spot trend changes and Jurik smoothing functions are used in this version of the indicator.

Attachment download

📎 trend_continuation_factor_-_jurik_smoothed.mq5 (16.37 KB)

Source: MQL5 #20734