Trend continuation factor (of average)
Info
The Trend continuation factor (of average) is a Indicator for MetaTrader 5 that theory : indicator based on m. H.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 Trend continuation factor (of average)
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
Theory : Indicator based on M.
Typical Use Case
This Indicator excels in trend following 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: Gold Spread AT R Trend Panel for MetaTrader 5 - another powerful indicator for MetaTrader 5 traders.
Theory :
Indicator based on M.H.Pee's article "Just How Long Will A Trend Go On? Trend Continuation Factor".
Also recommended: Supertrend Indicator: ATR-Based Trend Following for MetaTrader 5 - similar indicator with strong performance on MetaTrader 5.
Because trends are an important component of the market, it is imperative you can detect them. However, it's not enough to just identify a trend. It's also crucial to be able to tell the direction of the current trend.Although trends can make you the most money in the shortest time when you are in sync with them, they can also cause you to sustain heavy losses if your position is in the opposite direction. To avoid getting caught in such a situation, I created the Trend Continuation Factor (TCF), an indicator that identifies the trend and its direction.
But there are big differences compared to original too.
price pre-smoothing (filtering) added in order to avoid multiple false signals
Usage :
You can use color changes as signals
The usual "big picture" example :
You may also like: Self-Aware Trend System (SATS) for MT5 - excellent alternative for indicator users on MetaTrader 5.
⚠ 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.