- Trading Finder
- Products
- Indicators
- MetaTrader 4 Indicators
- Power Trend Indicator for MetaTrader 4 Download - Free - [Trading Finder]
Power Trend Indicator for MetaTrader 4 Download - Free - [Trading Finder]
The Power Trend Indicator in MetaTrader 4 is a tool for determining the direction and strength of a trend. The PT indicator visually displays trend strength using four different colours, helping traders identify weak trends and the possible occurrence of a new trend.
This indicator's information is useful for detecting potential reversals and trend changes. This oscillator shows trend reversals in red, weak trends in blue, and strong trends in green.
Power Trend Indicator Table
Category | Oscillator - Signal and Forecast |
Platform | MetaTrader 4 |
Skill Level | Intermediate |
Indicator Type | Reversal - Continuation |
Time Frame | Multi Time Frame |
Trading Style | Short-Term - Medium-Term |
Markets | All Markets |
Bullish Trend Signal
In the image below, the price chart of the AUD/USD currency pair in a one-hour time frame is shown. The Power Trend Indicator histogram moves above the zero level, indicating a trend change from bearish to bullish with the red histogram. The weak start of the bullish move is shown with a blue histogram. Finally, the green histograms indicate the start of a strong uptrend, generating an Uptrend Signal.
Bearish Trend Signal
The image below shows the price chart of Gold against the US Dollar (XAU/USD) in a 4-hour time frame. The Power Trend Indicator histogram moves below the zero level, indicating a trend change from bullish to bearish with the red histogram. The weak start of the bearish move is shown with a blue histogram. Finally, the green histograms indicate the start of a strong downtrend, generating a Downtrend Signal.
Power Trend Indicator Settings
- PT_chart: Histogram candle aggregation is set to 5;
- PT_period: The indicator period is set to 1.
Summary
The Power Trend Indicator is an essential tool in technical analysis for determining trend direction and strength. This indicator can greatly assist traders whose trading strategies are based on the major market trends. For better efficiency, it is recommended to use this indicator alongside other technical analysis strategies to confirm trends.
Is the Power Trend Indicator suitable for all trading symbols?
Yes, the Power Trend Indicator can be used for all trading symbols.
Does the Power Trend Indicator generate trading signals on its own?
Yes, but for better accuracy, combining it with various technical analysis tools is recommended.