Understanding the Trend Equilibrium Indicator (TrendEQ) for MetaTrader 5

Settings and Parameters

General Parameters

• Momentum Period
  This setting determines how many candles are factored in to calculate momentum.
  Recommended value: 14
  (Keep in mind: a higher value smooths out the curve but introduces a lag.)

• Volatility Period
  This parameter specifies the number of candles used to gauge volatility.
  Recommended value: 14

• Scaling Factor
  This adjusts the calculations to ensure the indicator produces a readable curve.
  Default value: 100,000

Thresholds

• Overbought Level
  This is the threshold above which the market is deemed overbought.
  Default value: 100.0

• Oversold Level
  This is the threshold below which the market is considered oversold.
  Default value: -100.0

Functions

1. Trend Determination:

   • Positive values indicate upward momentum, suggesting a bullish trend.
   • Negative values signal downward momentum, pointing to a bearish trend.

2. Volatility Adjustment:
   This feature allows the indicator to adapt momentum calculations in real-time based on current market volatility, helping you get timely and accurate signals.

3. Overbought/Oversold Signals:

   • Overbought: A signal that the price might be due for a correction.
   • Oversold: A signal that the price could be ready for a rebound.