This indicator based on a 5 period simple moving average detects trends: if there is an uptrend then shows green bars, if there is a downtrend then shows red bars, if there is a weak trend then shows yellow bars.
The detection of the trend is made by dividing the moving average value by its previous one, so if greater than 1 then there is an uptrend, if lesser than 1 then there is a downtrend.
The flat trend is shown if the absolute difference between 1 and this ratio is lesser than the tolerance specified in the input levels. You can improve the performance of this indicator by changing the tolerance, the kind of moving average and its period.
MT4 Indicator Download – Instructions
Trend Strength Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Trend Strength Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Trend Strength Indicator.mq4?
- Download Trend Strength Indicator.mq4
- Copy Trend Strength Indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Trend Strength Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Trend Strength Indicator.mq4 is available on your Chart
How to remove Trend Strength Indicator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: