TrendСontinuation - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Real author:
Trends indicate important parts of the market. You should certainly be able to define them.
However, simply defining a trend is not enough. It is also important to define the current trend direction. Although the trend can help us make more money in a short period of time, if your position is opened against the market, the trend will also help us lose money "quickly". To avoid this, the authors developed the "Trend Continuation Factor" (TCF). This indicator was created to identify trends and their direction.
The indicator was first implemented in MQL4 and released in the code base on October 16, 2007.
Figure 1 Trend Continuation Indicator
Attachment download
📎 smoothalgorithms.mqh (134.03 KB)
📎 trendcontinuation.mq5 (8.92 KB)
Source: MQL5 #1579
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