Slope Direction Line Indicator for MT5 Download – Free – [TradingFinder]

The Slope Direction Line Indicator is an updated version of the traditional moving average used to identify market trend direction. This tool visualizes bullish or bearish market conditions by changing the color of the moving average lines.

The position of the price compared to this colored line helps identify potential entry and exit points in trades.

Specification Table for the Slope Direction Line Indicator

The specifications of the Slope Direction Line indicator are presented in the table below:

Slope Direction Line at a Glance

The Slope Direction Indicator uses color changes in the moving average line to provide signals regarding market direction.

In bullish movements, the line turns blue, and during bearish phases, it changes to red. If the line color remains unchanged, it indicates a continuation of the current market trend.

Bullish Trend Conditions

According to the analysis of the EUR/CHF chart on the 1-hour timeframe, the price successfully breaks above the moving average line, creating a favorable condition for entering a trade.

As shown in the image below, the change in the moving average color from red to blue is considered a sign of the beginning of a bullish trend.

Bearish Trend Conditions

Based on the GBP/USD chart on the 30-minute timeframe, the price reverses direction and breaks below the moving average line, indicating a weakening of the upward trend.

In this case, the MA line changing from blue to red is taken as a sign of the potential beginning of a bearish trend in the market.

Settings of the Slope Direction Line Indicator

The settings of the Slope Direction Indicator, based on the image below, are as follows:

• Period: The period of the moving average used to calculate the slope
• FilterNumber: Filter value to reduce noise and prevent frequent color changes
• MA_Method: Type of moving average
• Applied Price: Type of price used in calculation
• ALERT: Enable alert
• EMAIL: Option to send alert via email
• NOTIFICATION: Enable push notification
• MESSAGE_TIMEOUT: Time interval between alerts
• MESSAGE_SUBJECT: Subject of the alert message when a signal is sent

Conclusion

The Slope Direction Line Indicator, by changing the color of the moving average, clearly displays the general trend direction in the market. It can also be used to identify entry and exit points for trades.

Its advanced customization settings allow traders to personalize sensitivity and alert types according to their trading strategy.