Trend Strength Indicator with Arrows

Trend Strength Indicator with Arrows for MT4

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 5 reviews
 by Magister

โ„น๏ธ How to assess trend strength
Assessing the strength of a trend is an important part of technical analysis. There are many methods to analyze strength of a trend.

Assessing strength using trend lines
Trend line is a simple yet powerful technique but when only we can draw it correctly. Trend line can also be used for assessing trend strength. First we need to draw trend line in a proper way, to do so, remember while drawing a trend line. The trend line should touch at least three price points.

Strong Trend: The strength of the trend is considered high when the trend line drawn is steep (i.e. makes angle with horizon greater than 30, preferably 45 degree).

Weak Trend: When the angle of the trend line is shallow (angle with horizon is less than 30 degrees) the strength of the current trend is weak.

Choppy/Sideways market: We say the market is sideways when the trend line drawn is flat horizontal that means it makes almost zero angels with horizontal axis.

Using Average Directional Index (ADX)
ADX is a great tool to measure the strength of a trend, however unlike trend line ADX does not indicate the trend direction. Measuring trend strength is very easy using ADX.

When ADX value is below 20 (some also use 25) then the trend strength is weak and when the ADX value is more than 20 then it is strong.

 by Seba

Ssamira: did you have the buffers finally?

 by Ssamira

I wanted to know if I could get the buffers for the Trend Strength Indicator. I would like to incorperated it in a trading strategy I am using to send me signal once it reaches a certain percentage on the Trend Strength Indicator. Please let me know if this is possible.
Thank you for your time.

 by ben

Indicator is all smushed together hard to read.

 by Trader

Would be nice to have this without it being in a Window. I use other stochastics and symbol changer and this eats up space. I wish you could modify it some how.