ZP Super Trend Indicator
The best trend-following indicator for MT5 is the ZP Super Trend Indicator for MT5. MT5 trend reversal indicator.
- Description
- Indicator Settings
Description
Trading tools that are extremely customizable include the ZP Super Trend Indicator for MetaTrader. This indicator features a multi-time frame toolbar that allows traders to assess various trends. All of the current trend conditions for a number of different timeframes are displayed simultaneously.
The multiplier number and the average true range (ATR) of the price are utilized by the indicator in order to determine the direction in which the asset is trending. A buy/sell entry signal line is also included in its arsenal of functions. Furthermore, the signal line serves as a zone of dynamic support and resistance in the system.
The indicator is suitable for forex traders of all experience levels, including beginners, intermediates, and advanced traders. Furthermore, it is recommended for trading tactics such as swing trading, day trading, intraday trading, and scalping transactions.
How To Trade With ZP Super Trend Indicator
The accompanying H1 USDJPY chart shows the PZ Super Trend indicator. On the H1 timeframe, it suggests a bearish trend, which is also consistent with trends on the H4 timeframe, as well as on the daily, weekly, and monthly timeframes. This information indicates that there is a major bearish trend and that there may be an opportunity to sell.
In addition, the signal line of the indicator coincides with the bearish movement as well. You now have two choices when it comes to opening a SELL order: you can either wait for price action confirmation (like a bearish engulfing) or you may wait for the price reaction (wick rejection) with the indicator line.
Conclusion
In its most basic form, the ZP Super Trend Indicator for MT5 is a trend-following tool that will provide you with assistance in simultaneously monitoring the state of the market over a variety of timeframes. Most importantly, it is available for free download.
The indicator includes various customizable options:
ATR Period: Sets the period used for calculating the Average True Range.
<p data-start=”189″ data-end=”259″>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.
