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traditional itrend
Info
The traditional itrend is a Indicator for MetaTrader 4 that if the red graph is greater than zero and grows - go bullish (if at the same time the blue graph is less than zero and falls - the uptrend is getting stronger)if the red graph is less than zero and falls - go bearish (if at the same time the blue graph is greater than zero and grows - the downtrend is getting stronger)common parameters - parameters that affect both lines: "apply to". the basis for the indicator calculation.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use traditional itrend
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
if the red graph is greater than zero and grows - go bullish (if at the same time the blue graph is less than zero and falls - the uptrend is getting stronger)if the red graph is less than zero and falls - go bearish (if at the same time the blue graph is greater than zero and grows - the downtrend is getting stronger)common parameters - parameters that affect both lines: "apply to".
Typical Use Case
This Indicator excels in trend following on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: traditional ma c d with momentum indicador and alarms - another powerful indicator for MetaTrader 4 traders.
if the red graph is greater than zero and grows - go bullish (if at the same time the blue graph is less than zero and falls - the uptrend is getting stronger)
Also recommended: day ma - similar indicator with strong performance on MetaTrader 4.
if the red graph is less than zero and falls - go bearish (if at the same time the blue graph is greater than zero and grows - the downtrend is getting stronger)common parameters - parameters that affect both lines:
"apply to". the basis for the indicator calculation. in this case it is the price - close, open etc.
parameters of the trend direction line (red line). the trend direction in the itrend is calculated based on the bollinger bands technical indicator, and therefore the itrend trend direction has the same settings as bollinger bands:
"mode". specifies the bollinger bands line to use in the calculation of the itrend: main, top or bottom.
"period". the period of the itrend indicator
"deviation". the deviation of the itrend indicator
parameters of the trend strength line (blue line). the line of the trend strength in the itrend is calculated based on the technical indicators by alexander elder - bears power and bull power
"period". the of the itrend trend line.
You may also like: absolute strength indicator suite - excellent alternative for indicator users on MetaTrader 4.
Source Code
/*
name := itrend 1.01
author := andrew
link := http://anri.aney.ru/forex/
notes := trend indicator
separate window := yes
first color := blue
first draw type := histogram
first symbol := 217
use second data := yes .......
⚠ 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.