100% Free - Easy Trend Visualizer Indicator
(source: available for free on some free Forex websites)
Easy Trend Visualizer MetaTrader indicator - this indicator
does exactly what its name is telling you.
It shows where the trend begins,
where it ends and where there is no trend at all. It's based on standard
MetaTrader ADX (Average Direction Movement Index) indicators and works quite
fast. Easy Trend Visualizer
displays itself in the main chart window. Available
for MT4 platform.
To install your newly downloaded indicator to MT4, please use the following steps:
- Place your new indicator into the MetaTrader "Indicators" folder.
- Restart Metatrader4.
- The new indicator will be available from the top menu: "Insert -> Indicators -> Custom" or from the Navigator window on your right sidebar, again under Custom Indicators.
Input parameters:
- ADXperiod1 (default = 10) - period of the first ADX indicator.
- ADXperiod2 (default = 14) - period of the second ADX indicator.
- ADXperiod3 (default = 20) - period of the third ADX indicator.
You should be warned that this indicator redraws the current bar. So, it's not
very wise to enter a position based on the signal of the current bar.
Previous bars aren't redrawn and can be used as the safe entry signals. Although Easy
Trend Visualizer is quite accurate there are many false signals.
But they
shouldn't be a real problem since a stop-loss level can minimize losses. You
should also exit positions if the trend is over.
Download: FREE Easy Trend Visualizer (ZIP)