The Trend Percentage indicator, designed for MetaTrader, is an oscillatory tool that calculates and monitors the percentage change in bullish and bearish trends. It essentially reveals the current percentage difference between the number of bullish and bearish traders in the market.
It’s important to note that the Trend Percentage indicator doesn’t generate specific BUY or SELL signals. Instead, its primary purpose is to offer traders a clear visualization of the percentage change in an asset’s price. This information can serve as a valuable confluence factor to refine your trade entry and exit decisions.
Positioned in a separate window beneath the chart, this indicator seamlessly integrates with your chart setup, offering user-friendly accessibility. Its versatility makes it suitable for traders of all levels, ranging from novice to advanced. Furthermore, it can complement various trading styles, including scalping, day/intraday trading, and swing trading.
How to Trade Using the Trend Percentage Indicator
As shown in the screenshot above, this indicator is a valuable addition to your MetaTrader 4 (MT4) chart. It’s advisable to use it in conjunction with other technical indicators to enhance its effectiveness. The Trend Percentage indicator features green and red lines that fluctuate in response to the prevailing market trend over a specified time interval.
The relative positions of these lines indicate the dominant market trend, either bullish or bearish. For instance, when the green line is positioned above the red line, it signifies a bullish trend. In such a scenario, you might seek a BUY opportunity, particularly if the green line maintains a noticeable margin over the red line.
This principle is equally applicable for identifying a potential SELL opportunity, where you’d look for the red line to be dominant. You can refer to the provided screenshot for a visual example.
The Trend Percentage indicator for MetaTrader holds the potential to enhance your success in trading by refining your trade entry and exit decisions, especially when used in conjunction with technical analysis. Notably, this indicator is available for free download, making it a valuable addition to your trading toolkit.