i think we can use supertrend strategy to detect the trend
When the trend changes, tdi and identifying trend indicators can not understand the trend change well and cause a position to open against the trend, and then the martingale is activated and the account explodes.
in this picture the supertrend strategy has activeted
It is already in Beta version "CP 2.49.2.1.ex5" the use of 3rd indicators. Try it and share.
SuperTrend
This youtuber has explained the strategy reaaly well. and it is effective too. In one of my other post I have consider Super Trend Indicator. It can be good indicator if used in combination with other indicators like MACD, EMA or the one as explained i this YouTube video -
Im getting good results from Supertrend + DEMA in tradingview strategy tester.
Hopefully CP EA has it.
This youtuber has explained the strategy reaaly well. and it is effective too. In one of my other post I have consider Super Trend Indicator. It can be good indicator if used in combination with other indicators like MACD, EMA or the one as explained i this YouTube video -
Hi, I am attaching this Half Trend indicator for MT5 in mq5, it is very similar to others. Half Trend Buy Sell Indicator.mq5
I like this SuperTrend indicator, coupled with another Indicator I found browsing for trend stuff "EhlersSuperBandPassFilter" https://www.mql5.com/en/code/33528?utm_campaign=codebase.list&utm_source=mt5terminal&utm_source=download.mql5.com
Only MT5 code I'm afraid.
I have not used this on live trading as yet, and only starting to test manually on demo.
You can see though that it can be used as a confirmation of the SuperTrend, as long as the Ehlers filter is above the 0.000 and the SuperTrend is green then going long is good.
You can see the Ehlers goes below 0.000 and the SuperTrend turns red its time to short/close trade.
Of course the above pic is on a 5m chart, but its better used on a 1h/4h/1d to give a better trend indication while using lower time frames to trade.
I used the defaults for the Ehlers and a 25 period for the SuperTrend..
just my tuppence :-)
Hi, something like Super Trend is the HalfTrend. It is an indicator which can be also chosen in the TradingView App. I have only MT4 file. The Indicator from PipFinite and GoldStuff are using this type or it looks very similar to this.
How are there differences when comparing Identify Trend in CP with supertrend on the graph? My preference was to have this indicator as IdentifyTrend.
Yep, this can be done with Custom indy. Closing the topic.