A MetaTrader 5 Indicator for Trend Direction and Strength
Summary
The document introduces a basic MetaTrader 5 version of a trend direction and force indicator, adapted from an older MetaStock indicator. It says the tool aims to show both which way a trend is moving and how intense it is. The suggested signal is the first change in trend direction, which could be used as an entry or attention point in a trading system.
The text provides no calculation method, parameter settings, market examples, backtest, or evidence about signal quality. It also notes that multiple MetaTrader 4 versions exist and had not yet been converted to MetaTrader 5 at the time described. Readers therefore get only a high-level description of the indicator’s purpose and signal concept; further documentation would be needed to assess its behavior, implementation, and suitability for trading.
Key ideas
- The indicator is a basic MetaTrader 5 version of an older MetaStock tool.
- It is intended to display trend direction and trend intensity.
- A change in trend direction is presented as the usual signal.
- The document gives no formula, parameter guidance, or performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.