Colored trend Indicator

Colored trend indicator advanced is a trend indicator that is based on Fast Moving Average and Slow Moving Average and also uses RSI and Momentum to give a trend strength in percent. It is aimed to find more healthy trends with this indicator. This indicator can be used alone as a trend indicator.

Colors

1. (Default) Green = Uptrend
2. (Default) Red = Downtrend
3. No color = No trend, no good trend

Indicator Parameters

• WarnPosTrendchange: Warns you when the trend may change.
• FullColor: See screenshot.
• Signal Period: the number of bars used for the indicator calculations.
• Slow MA period: Period for the slow moving average.
• Fast MA period: Period for the fast moving average.
• MA method: Default is EMA (Exponential moving average).
• ColorUpTrend: Color for bullish trend.
• ColorDownTrend: Color for bearish trend.
• RsiPeriod: Period for the RSI indicator.
• RsiPriceAPLL: Price type used for RSI indicator.
• MomentumPeriod: Period for the Momentum indicator.
• MomentumPriceAPLL: Price type used for Momentum indicator.
• StrongnessPercent: 100 is good for low timeframes. When using higher timeframes, use a smaller number. It is possible to enter more than 100% but I do not recommend it.
• StrengthRounding: Round trend strengths at 5 percent (18% becomes 15%, 3% becomes 0%, 78% becomes 75%, etc.).
• ShowSpread: Show Spread label on chart.
• ShowServertime: Show Server time label on chart.
• renewTimeMilliSec: Refresh time for spread and server time in milliseconds.
• LabelColor: Color for spread and server time label.

• Works on all timeframes.
• Works on all currencies.

Default parameters are optimized for low timeframes (EURUSD M5). To use the indicator on a higher timeframe, you have to adjust the parameters.

If you have any questions, feel free to ask.