Break Trend
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Break Trend
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.
Description & Settings
Ramil Minniakhmetov
The grid strategy is very popular, but has its own downsides. One of the main downsides is that using indicators you can enter the market in a wrong direction in the beginning of a strong trend and lose your deposit.
The BreakTrend indicator solves this problem. It generates signals when the strong movement has already happened, and the turnover or pullback is possible. It measures the number of points the price passed for the specified number of bars.
Settings are different for each currency pair and timeframe.
Originally this indicator has been written in MQL4 and was first published in the on 28.04.2014.
Fig.1. The BreakTrend indicator
