Forces Momentum: Trend Determination Tool
Info
The Forces Momentum: Trend Determination Tool is a Expert Advisor for MetaTrader 4 that description:verified - no holy grails. While developing an Expert Advisor, I encountered the need to determine the trend.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Forces Momentum: Trend Determination Tool
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
Description:Verified - No Holy Grails.
Typical Use Case
This Expert Advisor excels in trend following on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: EA template for the market - another powerful expert for MetaTrader 4 traders.
Description:Verified - No Holy Grails. While developing an Expert Advisor, I encountered the need to determine the trend. How to determine it unequivocally? In the literature I found... nobody knows :)
Also recommended: e-Trailing: Automated Trailing Stop for All Positions - similar expert with strong performance on MetaTrader 4.
The main tool used is 3 moving averages with different periods. In addition to the trend direction, I was also interested in the strength of the current trend. Surprisingly, I came up with something that looks promising at first glance. Personally, I believe the main focus should be on potential problems, not on "sky-high prospects".
Essence: We consider a trend to be present when the main indicator line (Black, 2 pixels thick in the image...) is either above the zone bounded by the Red dotted line, indicating an uptrend. Correspondingly, if it is below the same zone, it's a downtrend. When the main indicator line is within the zone bounded by the Red dotted line, it indicates a flat market.
The moving averages have periods of 3, 14, and 50 respectively. Now, regarding potential problems...
1) Currently, changing the periods can only be done within the program code, because if you change them, it is highly likely that the trend criteria – specifically, the zone bounded by the dotted line – would also need to be changed.
2) Simple crossovers of the main line with the auxiliary ones would not be considered reliable criteria for market entry. I needed this tool to confirm candlestick signals.
I hope this will be useful to someone. I would very much like to see feedback and discussion...
The image on the left is designed in light tones, in accordance with image requirements. The one on the right shows the default indicator color scheme. The colors of the histograms correspond to the colors of the moving averages displayed in the window above...
You may also like: Trading Criteria - excellent alternative for expert users on MetaTrader 4.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.