441# Forex Trend Direction Indicator

Trend Following Strategy

Submit by James 22/03/2012

The default version allows you to use two modes, optimized, and manual.

Optimized mode calculates the stop line by using a 14 period EMA smoothed

ATR(14) multiplied by a fixed multiplier of 2.824. In manual mode, you set a

fixed number of pips you want the stop line to be drawn. In this version,

there are two modes:

2. Fixed stop mode (customizable fixed stop)

The input parameters are as follows:

* UseATRMode - This calculates the stop line based on ATR using customizable

period, multiplier and smoothing.

* NonATRStopPips - If "UseATRMode" is false, then this value is the number of fixed

pips to place the stop line.

* ATRPeriod - If "UseATRMode" is true, then this sets the ATR period.

* ATRMultiplier - If "UseATRMode" is true, then the ATR value will be multiplied by

this value when calculating the stop line.

* ATRSmoothing - If "UseATRMode" is true, then this will smooth the selected ATR

with an EMA of this smoothing period.

* UpArrowColor - The color the Up arrows will display in.

* DnArrowColor - The color the Down arrows will display in.

* ArrowDistance - This can adjust the distance away from the stop line that the

arrows appear. By default, the arrows appear directly above or below the stop line. A

positive number here will move the arrows further away from the price. A negative

number will move it closer to the price.

For the default trend direction behavior, set the following:

UseATRMode = true

ATRPeriod = 14

ATRMultiplier = 2.824

ATRSmoothing = 14

In the picture Forex Trend Direction Indicator forex system in action.

Share your opinion, can help everyone to understand the forex strategy.

Comments: 3

#3
Soman (Saturday, 24 March 2018 18:02)

It looks good as far as trend is concerned.
#2
Al (Tuesday, 06 September 2016 05:30)

Is there an mq4 version of this?
Or is there a version that gives email alerts when the arrows show?
#1
Ronald (Wednesday, 10 August 2016 19:55)

Would it be possible to show the arrows after bar close (so not on the current bar)? Thanks in advance!