Power Trend Indicator for MetaTrader 5 Download - Free - from [Trading Finder]

The Power Trend Indicator is a valuable tool for MetaTrader 5 that enables traders to detect the direction and strength of market trends. This oscillator displays trend strength using four colors. Red in the histogram indicates a trend change, blue represents a weak trend, green signifies a strong trend, and black denotes a neutral trend. This indicator is ideal for detecting trend reversals and sudden trend changes.

Indicator Table

The uptrend of the Indicator

The chart below shows the New Zealand Dollar to US Dollar (NZD/USD) pair in a 4-hour timeframe. In the highlighted area, the histograms shift from the negative to the positive phase, with the red histogram indicating a Change Of Trend. Additionally, green histograms provide a signal for a strong Bullish Trend.

Downtrend of the Indicator

The chart below shows the British Pound to US Dollar (GBP/USD) pair in a 1-hour timeframe. In the highlighted area, the histograms shift from the positive to the negative phase, with the red histogram indicating a Change Of Trend. Furthermore, green histograms signal a strong Bearish Trend.

Indicator Settings

• PT_chart: Histogram candlestick integration equals 5;
• PT_period: Indicator period equals 1.

Summary

The Power Trend Indicator is an excellent tool for detecting changes and identifying strong or weak trends. This oscillator can be used alongside various analytical styles and tools, such as support and resistance levels, price channels, and divergences, to further confirm trend direction and reversal points.