trend strength indicator
Info
The trend strength indicator is a Indicator for MetaTrader 4 that 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.
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 trend strength indicator
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
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.
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: absolute strength indicator suite - another powerful indicator for MetaTrader 4 traders.
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.
Also recommended: instantaneous trendline filter indicator - similar indicator with strong performance on MetaTrader 4.
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.
You may also like: i trend indicator suite - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 black
#property indicator_color2 lime
#property indicator_color3 red
#property indicator_color4 yellow.......
⚠ 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.