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Tools
Position Sizer
Calculate risk-based position size directly in your MetaTrader platform and execute a trade in one click or a press of a button.Education
What Is Forex
Learn what Forex is and how it works from this simple explanation.Indicators
Supertrend
Download the Supertrend indicator for MT4 and MT5 to detect trend changes based on the price action.Tools
Position Size Calculator
Calculate your position size based on risk, stop-loss, account size, and the currencies involved. A simple online calculator for quick results.Trend Indicators
Trend indicators help you measure the direction of the current trend and confirm trend reversals after they happen. Most trend indicators are lagging indicators as they rely on averaging multiple price values from the past.
Custom trend indicators that you will find here are completely free and open-source. They will help you with trend direction detection and trend change confirmation signals. As with all trend indicators, these should be used in combination with oscillators.
Beginner ver. 1.02, 2017-08-26
This one shows up trend extremes (max and min) which can be treated as the support and resistance points and help you understand current trend channels. It is a simple indicator that uses some period to find the highest and the lowest points and mark them with the dots. It can be a good base for your own range breakout expert advisor.
Why use custom trend indicators?
- Trend indicators are among the most intuitive to use as they are basically showing you whether the price is rising or falling.
- Both MetaTrader and cTrader have their own built-in trend indicators, but the above-listed custom trend indicators offer either alternative methods of trend detection or provide some important features (alerts, multi-timeframe analysis, etc.).
- Custom trend indicators can be further improved according to your preferences.
- You can build an automated expert advisor based on a custom trend indicator.
