The more I worked on MetaTrader, the more I started to like it! I created a MetaTrader Trend Indicator about 2 weeks ago as a test of the MetaTrader customized indicator platform. I have not done programming for a long long time and definitely I am trying to re-shape my rusty programming skill again on MetaTrader.
Personally, I like to look at 5 minutes chart. 1 minutes is too short for me to react and 5 minutes chart is just nice, I can flipped through the charts of various time frames, or to look at the latest news or even allow me to do some reward/risk calculation.
The purpose that I created the “MyHourTrend” indicator is to help me monitoring the hourly trend while I monitor closely on a 5 mins or 15 mins chart. The hourly trend is a longer period trend and therefore the trend is more reliable.
New Updated My_MATrend Indicator
The previous version of the trend indicator can only track the trend of the hour chart. After discussing with some fellow friends, I decided to make it more flexible such that we can decide to it on 1 minutes, 5 minutes, 15 minutes or even the hourly chart.
I add in an extra input parameter for you to select which time frame you like to look at. So, you can have a chance to use this indicator with higher flexibility.
There are 6 inputs parameters as followed:
- ROCMA_Period : The period of ROC (Rate of Change) used to check trend of the chart, recommended value is 200 |
- ROC_Period : The period of the ROC lag, recommended value is also 200
- Hist_ShortPeriod : Short Term Moving Average Period, recommended value is 80
- Hist_LongPeriod : Long Term Moving Average Period, recommended value is 200
- TimePeriod : Timeframe of the chart, it can be 1 (1min), 5 (5 mins), 15 (15 mins), 30 (30 mins), 60 (1 hour) This version does not support timeframe longer than 1 hour yet
- MADiff_Threshold : Threshold for MA Difference, recommended value for 5 mins chart is 0.00006
Alright, you can download the new latest My_MATrend Metatrader trend indicator here!
Download Metatrader Trend Indicator
Do leave me a comment or feedback if you have any success in using this indicator or I also value your suggestion on how I can improve this indicator further.
Happy trading!!!
PS: You can download Metatrader here if you need the software!
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
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Hi KP,
I downloaded the first indicator and its working fine, but this update (when clicked on) takes you a page saying it has been removed??
Cheers
Prash
Having issues downloading the MY_MATrend.mq4. It said no such file on the website. If possible please send me the indicator to my email so i can have a test. Your assistance will be appreciated. Thank you very much!
Thanks for pointing out the error link, I have corrected it. You should be able to download it now. Have fun!