iTrend Indicator with Adjustable Trend-Change Thresholds
Summary
This description presents an iTrend indicator for MetaTrader 5 with multi-timeframe support, four selectable average types, and 22 price inputs. It also lists alert options for current or closed bars, including messages, sounds, email, and push notifications. The central strategy detail is an adjustable threshold based on an extremes look-back period and value: once the threshold is crossed, the trend state continues until the opposing direction breaks its corresponding level. This is intended to define both trend changes and continuation.
The document gives configuration features and a high-level account of the trend-state rule, but does not explain the underlying formula, recommended settings, or how the threshold should be calibrated. It provides no examples, backtest results, or comparison with the indicator's other versions. The stated features alone do not establish signal quality, and the description does not address position sizing, exits, or risk management.
Key ideas
- The indicator supports multiple timeframes, four averaging choices, and 22 price types.
- Its alert system can notify on current or completed bars through several channels.
- An adjustable extremes-based threshold defines a trend change.
- A trend state persists until the opposing direction breaks its threshold, but the document supplies no validation or trading rules.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.