Mega Trend Indicator for MetaTrader 5 – Free Download [TradingFinder]

The Mega Trend Indicator is a technical analysis tool used in financial markets, such as Forex and cryptocurrency, designed to separate the primary market trend from short-term movements by utilizing long-term moving averages.

This indicator visually displays key entry and exit points through color changes in the trend line.

Mega Trend Indicator Table

The specifications of the Mega Trend Indicator on the MetaTrader 5 platform are shown in the table below.

Mega Trend Indicator Overview

The Mega Trend Indicator is built on a combination of Simple Moving Average (SMA) and Exponential Moving Average (EMA) with predefined periods.

Its goal is to display the behavioral structure of price and the main trends in the market.

The output is shown as a colored line on the chart, indicating market direction through its color.

• Blue represents an uptrend
• Red signals the beginning or continuation of a downtrend.

Indicator in an Uptrend

The chart below displays the Zcash cryptocurrency (ZEC/USD) on a 5-minute timeframe. In this indicator, a color change from red to blue represents a buy entry signal.

This change marks the start of a new uptrend, and for greater confirmation, it's recommended that this change occurs near a strong support zone or after a breakout above resistance.

Indicator in a Downtrend

The following chart shows the British Pound vs Swiss Franc (GBP/CHF) index on a 5-minute timeframe. In a downtrend, a color change from blue to red on the indicator line signals the possible start of a new downward trend.

This signal becomes more reliable if the color shift happens around key price levels.

Mega Trend Indicator Settings

The settings panel for the Mega Trend Indicator is displayed below:

• Period: Moving average period
• Ma Method: Second moving average method
• Applied Price: Price base
• ALERT: Display Alert
• EMAIL: Email delivery
• NOTIFICATION: Mobile notification
• MESSAGE TIMEOUT: Delay between messages
• MESSAGE SUBJECT: Display Message subject

Conclusion

The Mega Trend Indicator is a trend-based technical analysis tool that utilizes long-term moving averages to display price action structure and market trend shifts accurately.

Its performance is based on line color changes on the chart to determine trend direction and highlight key entry and exit zones.