BACK TO ARTICLES

The Half Trend New Arrow indicator for MT5

 
 
 
 
 
 
 

The Half Trend New indicator is one of the simplest, but at the same time effective and showing good results algorithm. Its main function is to generate a signal when the market trend changes. The indicator is a solid line that changes color when the market trend changes, and then arrows of a certain color and direction are formed at the trend change points.

The indicator is universal, which allows to trade on any timeframe with any currency pairs. Half Trend New is used on both MT4 and MT5. However, it should be borne in mind that on the second platform, the indicator is rarely used on its own. And for better results, it is recommended to use additional indicators.

The Half Trend New indicator

Input parameters

An input parameters of the Half Trend New indicator are not extended and do not particularly affect its internal structure, mainly its visualization changes.

  • -Amplitude - the maximum deviation of the line from its average value. The default value is 5.
  • -Arrow code for UpArrow (font Windings) - font code parameter to change the visualization of the arrow with the growth value. The default value is 233.
  • -Arrow code for DownArrow (font Windings) - font code parameter to change the visualization of an arrow with a fall value. The default value is 234.
  • -Vertical shift of arrows in pixel - vertical shift of arrows from a solid line. The default value is 10.

It can be also changed the color scheme and width of the line or arrows in the indicator settings.

the Half Trend New inputs

Making trades using the indicator

It will not be difficult to make any trades using the Half Trend New indicator. The main task before making trades is to determine the current trend. Next, it should be waited for the arrow to form above the line. The indicator very accurately determines the points of trend change, however, it is difficult due to the strength of the trend, so additional indicators should be used for this function.

Indicator signals

Buy trades should be entered if the following points match:

-The price is above the indicator line.

- The line has a growth value and is directed upwards, that is, an uptrend has been determined on the market.

-Under the line, an arrow with the value of growth was formed, pointing upwards.

Exit the Buy trades if:

-A downtrend has been determined on the market, that is, the line has changed its color and direction.

-If a divergence has been identified. That is, a contradiction between the direction of the trend and the color value of the arrow.

In this case, trades should be closed immediately and not opened new ones, waiting for a new signal. A protective stop loss is set below the recent low.

Conditions for Sell signals

-The price is below the indicator line

- The line has a fall value and is directed downward, that is, a downtrend has been determined on the market.

- An arrow has formed above the line with the value of the fall, pointing down.

Exit the Sell trades if:

- An uptrend has been determined on the market, that is, the line has changed its color and direction.

-If a divergence has been identified. That is, a contradiction between the direction of the trend and the color value of the arrow.

In this case, trades should be closed immediately and not opened new ones, waiting for a new signal. A protective stop loss is set above the recent high.

Conclusion

The Half Trend New indicator is very effective in making trades. It very quickly determines a change in the direction of the trend, thereby helping to enter or exit trades. Proper money management, the use of additional indicators and a demo account will allow to make a trade quickly, easily and profitably.

FREE DOWNLOAD FOR MT5

BACK TO ARTICLES