Sideway Trend Indicator for MetaTrader 5 Download - Free - [TradingFinder]

The Sideway Trend Indicator is designed for traders who struggle during neutral or non-trending market periods.

This tool identifies range-bound zones and performs a precise price movement analysis, allowing MetaTrader 5 users to detect periods of non-trending markets and avoid entering unsuitable or high-risk trades under these conditions.

Sideway Trend Indicator Specifications

The complete specifications of this indicator are visible in the table below:

Indicator in an Uptrend

In the AUD/NZD currency pair on the 5-minute timeframe, when the indicator line exits the neutral zone and moves upwards, it turns blue.

This change signals the beginning of an uptrend. In such conditions, traders can enter buy trades, as buying pressure increases, suggesting a higher probability of price growth.

Indicator in a Downtrend

On the CHF/JPY price chart in the weekly timeframe, the indicator line exits the neutral zone and turns red, marking the start of a downtrend.

This scenario reflects increased selling pressure and a potential price decline. Traders can take advantage of this downtrend to generate profits.

Sideway Trend Indicator Settings

You can view the indicator settings in the image below:

• Chart Theme: Indicator background image;
• RSI Period: The calculation period of the indicator; the default value is 20;
• Signal Level: Customizable level on the chart; the default value is 0.38;
• Neutral Level: Displays the neutral zone; the default value is 0.05.

Conclusion

The Sideway Trend Indicator (Sideway Trend) is not just an analytical tool but also a smart filter for eliminating errors during non-trending periods.

Its ability to swiftly detect market changes and distinguish neutral zones from actual trends is among its standout features.