ZP Super Trend Indicator
The best trend-following indicator for MT5 is the ZP Super Trend Indicator for MT5. MT5 trend reversal indicator.
- Description
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- Indicator Settings
Description
With a multi-time frame toolbar to evaluate different trends, the ZP Super Trend Indicator for MetaTrader is a highly customizable trading tool. It displays the current trend conditions for many timeframes all at once.
To ascertain the asset’s trend direction, the indicator uses a multiplier number and the price’s average true range (ATR). It additionally features a buy/sell entry signal line. Additionally, the signal line functions as a zone of dynamic support and resistance.
The indicator is also appropriate for novice, intermediate, and experienced forex traders. Additionally, it is advised for trading strategies including swing, day/intraday, and scalping.
How To Trade With ZP Super Trend Indicator
The PZ Super Trend indicator is displayed on an H1 USDJPY chart in the image above. It indicates a bearish trend on the H1 timeframe, which is also consistent with trends on the H4, daily, weekly, and monthly timeframes. This data points to a significant bearish trend and a possible SELL opportunity.
Additionally, the indicator’s signal line likewise matches the bearish movement. Now, you have two options for opening a SELL order: either wait for price action confirmation (such as bearish engulfing) or wait for the price reaction (wick rejection) with the indicator line.
Conclusion
In essence, the ZP Super Trend Indicator for MT5 is a trend-following tool that will assist you in simultaneously monitoring the state of the market over many timeframes. Lastly, you can download it for free.
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The indicator includes various customizable options:
ATR Period: Sets the period used for calculating the Average True Range.
ATR Multiplier: Specifies the multiplier applied to the ATR value.
Max. History Bars: Limits the number of historical bars used in the calculation.
Display the Dashboard: Turns the indicator’s dashboard on or off.
Positive Label: Sets the color for the uptrend label.
Negative Label: Sets the color for the downtrend label.
Bullish Color: Determines the color of the signal line during bullish movements.
Bearish Color: Determines the color of the signal line during bearish movements.
Display Popup Alerts: Enables or disables popup notifications.
Send Email Alerts: Activates or deactivates alerts via email.
Send Push Alerts: Enables or disables push notifications.
Raise Sound Alerts: Toggles sound alerts on or off.
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