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Four-State Trend Indicator Using Oscillators and Volatility Measures

Article MQL5 code base
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Summary

This indicator classifies market conditions into four states by combining a selectable oscillator trigger with measures of trend strength. The user can choose stochastic, CCI, RSI, MACD, or momentum as the source for trend detection. Histogram colors distinguish strong bullish and bearish conditions from weaker ones, with separate colors for weak states.

ATR and standard deviation are used to assess trend strength. The description characterizes the tool as an indicator, not a complete trading strategy: it supplies no entry or exit rules, parameter guidance, markets tested, or performance evidence. It also notes that an earlier implementation appeared in MQL4, but that history does not establish that the indicator is profitable or reliable across instruments and regimes.

Key ideas

  • The indicator labels conditions using four trend states.
  • A configurable oscillator can serve as the trend trigger.
  • ATR and standard deviation help distinguish stronger trends from weaker ones.
  • Color-coded histogram states communicate trend direction and strength, but no trading rules or results are given.

Tags

Technical indicatorsTrend followingVolatility

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.