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 trading tool 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

The specifications of the Trend Power Oscillator are given in the table below:

Indicator Overview

Whenever the histograms are above the zero line (positive phase), they indicate an uptrend. When they are below the zero line (negative phase), they indicate a downtrend. Additionally, this indicator shows trend changes in red, weak trends in blue, and strong trends in green. Furthermore, black indicates no trend or a sideways trend.

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

The settings of the Trend Strength Detection Indicator are as follows:

• PT_chart: Histogram candle aggregation is set to 5
• PT_period: The indicator period is set to 1

Conclusion

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.