SM Price Bend-T01 Indicator
Info
The SM Price Bend-T01 Indicator is a Indicator for MetaTrader 5 that homesoft-tartan corp. This indicator measures the first price change derivative, indicating trend speed and direction.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use SM Price Bend-T01 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
Homesoft-Tartan Corp.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Candle Strength Analyzer MT5: Price Action and Wick Analysis - another powerful indicator for MetaTrader 5 traders.
Homesoft-Tartan Corp.Also recommended: price channel indicator - similar indicator with strong performance on MetaTrader 5.
This indicator measures the first price change derivative, indicating trend speed and direction. Color-coded indications have four states, with light colors representing strong trends and dark colors indicating weak trends or a flat market. Blue shades signify long positions, while red shades indicate short positions.
For each timeframe, users should empirically define a flat corridor value using the LowLevel and HighLevel input parameters. With a few days of observation, traders can predict trends and their approximate strength with high accuracy. It is recommended not to enter trades when the chart is within the specified corridor (purple dot dashes) to avoid stop losses and increase profit potential.
Originally implemented in MQL4 and published in 2026, this indicator utilizes the SmoothAlgorithms.mqh library classes, which must be copied to the terminal_data_folder\mql5\include. The use of these classes is detailed in the referenced article.
Fig.1: SMPriceBend-T01 Indicator
You may also like: kinematic price physics: velocity and acceleration indicators - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_plots 1
#property indicator_type1 draw_color_histogram
#property indicator_color1 clrdeeppink,clrpurple,clrgray,clrblue,clrdeepskyblue
#property indicator_style1 style_solid
#property indicator_width1 2.......
⚠ 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.