The cTrader Mega-Trend indicator is a combined indicator that helps a discretionary trader to isolate 4 potential market conditions:
- Strong Downtrends
- Weak Downtrend ( potential reversal )
- Strong Uptrend
- Weak Uptrend ( potential reversal )
The indicator combines Moving Average Crosses with the SuperTrend to highlight strong trends and weak trends ( potential reversals ) while internally the Moving averages are used to identify a long term trend ( subject to the common moving average lag ) while the SuperTrend ( and its volatility based mechanics ) allow to segment strong and weak cycles of the trend identified by the moving averages.
Key Data Settings
The following parameters are used in the indicator.
- Slow Moving Average Type
- Slow Moving Average Periods
- Slow Moving Average Source
- Fast Moving Average Type
- Fast Moving Average Periods
- Fast Moving Average Source
- SuperTrend ATR Moving Average Type
- SuperTrend ATR Periods
- SuperTrend ATR Multiplier
The above conditions are represented in 2 ways on the chart.
Non-overlay oscillator line that represents 4 statuses as per the map below (colour selection ) :
- Strong Uptrend ( 1 )
- Weak Uptrend ( 0.5 )
- Weak Downtrend ( -0.5 )
- Strong Downtrends ( -1 )
Optional bars colour painting on the main chart ( Bar colouring toggle )
- Strong Uptrend ( Dark Green )
- Weak Uptrend ( Light Green )
- Weak Downtrend ( Orange )
- Strong Downtrends ( Red )
API - Interface used for cTrader cBots
Technically the indicator exposes a TREND OSCILLATOR data series for eventual cBot integration
How To Install
First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install it onto the platform.
Instant Chat Support
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