Trend trigger factor - discontinued signal line(s)
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. 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 Trend trigger factor - discontinued signal line(s)
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
Theory :
Trend Trigger Factor was described by M.H. Pee in the Technical Analysis of Stocks and Commodities magazine in December, 2004. Usually the indicator is added some sort of smoothing in order to filter out the false break results.
It is using averages filter out prices prior to being used in calculation. That way the lag added is smaller then when the smoothing is used on the calculated result. The averages that can be used are the following :
simple moving average (SMA)
exponential moving average (EMA)
smoothed moving average (SMMA)
linear weighted moving average (LWMA)
Usage :
You can use the color change for signals
PS:
Usual "big picture example" with slightly different settings (visible from the example) - as usual, some experimenting with parameters advised before using it in real trading
