Idea Trend Metatrader 5 Forex Indicator

The Idea Trend Metatrader 5 forex indicator is designed to define the trend direction threshold using histograms within the indicator window.

To do this the indicator has three input parameters:

Period – defines the period of calculation;

Method – defines the method of calculation;

Threshold – defines the threshold of the trend direction.

The formula that explains the IdeaTrend MT5 forex indicator is as follows:

Idea = (MAH – MAC) / (MAC – MAL)

where:

MAH = MA(High, Period, Method)

MAL = MA(Low, Period, Method)

MAC = MA(Close, Period, Method)

Free Download

Download the “IdeaTrend.ex5” MT5 indicator

Example Chart

The AUD/USD H1 chart below displays the Idea Trend Metatrader 5 forex indicator in action.

Basic Trading Signals

Buy Signal: Go long when the green colored histogram columns of the Idea Trend Metatrader 5 forex custom indicator form below the “Direction Trend Threshold.”

Sell Signal: Go short when the red colored histogram columns of the IdeaTrend Metatrader 5 forex custom indicator stretch past the “Direction Trend Threshold.”

Exit buy trade: Close all buy orders if while a bullish trend is ongoing, a red colored histogram column of the Idea Trend indicator stretches past the “Direction Trend Threshold.”

Exit sell trade: Close all sell orders if while a bearish trend is ongoing, a green colored histogram column of the Idea Trend indicator forms below the “Direction Trend Threshold.”

Tips: Traders who wish to scalp the market for consistent profits, should add the Idea Trend Metatrader 5 forex indicator to their list of usable technical tools.

Download

Download the “IdeaTrend.ex5” Metatrader 5 indicator

MT5 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 5

Type: chart window indicator

Customization options: Variable (Period, Method, Threshold), Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: trend

Installation

Copy and paste the IdeaTrend.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL5 > Indicators (paste here)

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