The TrendPaint indicator draws candlesticks depending on the trend direction. Growing candlesticks on the increasing market are drawn in lettuce green, falling candlesticks on the increasing market are green. Analogically falling candlesticks on the falling market are displayed by red color, the growing candlesticks are purple. The indicator is drawn on the basis of the analysis of a relative position of two Moving Averages of MA Rounding (fast and slow) on four bars.
This indicator was first implemented in MQL4 and published in Code Base on 11.02.2010.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging price series for intermediate calculations without using additional buffers”.
MT5 Indicator – Download Instructions
TrendPaint is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
TrendPaint provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install TrendPaint.mq5?
- Download TrendPaint.mq5
- Copy TrendPaint.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on TrendPaint.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator TrendPaint.mq5 is available on your Chart
How to remove TrendPaint.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: