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Trend Indicator with Filtering Option

May 22, 2011 by

If you want some help in determining the current trend direction for your trades, then my new Dots indicator is for you. It’s based on NonLagDot MetaTrader indicator. Unfortunately, the original indicator is prone to repainting its previous chart arrows based on the new data and thus isn’t a good source of trading signals. Dots doesn’t repaint but its signals aren’t perfect — there are many false indications. To fight these wrong signals, a filter property is introduced. Adjusting this input parameter, a trader may get a much better result in terms of signal accuracy. Here is the list of Dots’ features:

  • Modify indicator’s period and applied price.
  • Simple intuitive display and very fast calculation speed.
  • Relies on price change angle calculation.
  • Both vertical and horizontal display shift can be modified.

You can get the code of the MT5 and MT4 versions or read more info about this classical technical indicator.

If you find any bugs in this MetaTrader indicator or if you want to make a suggestion regarding its functionality, please post a reply via commentary form below.

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