Indicator: TrendReversals

[lawlietrdo96]

Hello everyone,

First of all, I want to express my gratitude to Steve Hopwood and this community. Thanks to the resources and knowledge shared here, I was able to teach myself MQL5 programming. Now, I would like to give back by sharing an indicator.

I must mention that English is not my native language, and I used Google Translate to help me write this post. I hope everything is clear and understandable.

About TrendReversals
The TrendReversals indicator is designed to detect trend changes using an Adaptive Moving Average (ALMA) for price smoothing. Here are some basic details:

Price Smoothing: The indicator applies the ALMA (Arnaud Legoux Moving Average) to reduce market noise and provide a clearer view of price trends.
Peak and Valley Detection: It identifies potential turning points based on the analysis of peaks and valleys in the smoothed price data.
Trend Lines: The indicator plots two trend lines:
Green Line: Indicates an uptrend (bullish signal).
Red Line: Indicates a downtrend (bearish signal).
User Inputs: The indicator has several input parameters you can adjust:
AlmaWindow: Controls the window size for the ALMA calculation.
AlmaSigma: Controls the spread of the ALMA smoothing.
AlmaOffset: Adjusts the central weight of the ALMA.
Threshold: Sets the sensitivity for peak and valley detection.
For EURUSD, I use Threshold = 0.00001.
For other currency pairs, I recommend using Threshold = 0.0001.

btc.JPG

eurusd.JPG

nzd.JPG

[TransparentT]

Looks like a very promising indicator!

Definitely something I'll be eager to test in real-time when the markets open on Monday. It seems good on the M5 timeframe as per your pictures, but I'm curious to see what it will look like on the M1 timeframe and the higher timeframes (M15, M30, etc.).

Is there any way you could make this same indicator for the MetaTrader4 platform as well?

[lawlietrdo96]

Looks like a very promising indicator!

Definitely something I'll be eager to test in real-time when the markets open on Monday. It seems good on the M5 timeframe as per your pictures, but I'm curious to see what it will look like on the M1 timeframe and the higher timeframes (M15, M30, etc.).

Is there any way you could make this same indicator for the MetaTrader4 platform as well?

Hello, updated the post with the source code.

[TransparentT]

Looks like a very promising indicator!

Definitely something I'll be eager to test in real-time when the markets open on Monday. It seems good on the M5 timeframe as per your pictures, but I'm curious to see what it will look like on the M1 timeframe and the higher timeframes (M15, M30, etc.).

Is there any way you could make this same indicator for the MetaTrader4 platform as well?

Hello, updated the post with the source code.

Fantastic, thank you!