Introduction to the Trend Quality Indicator
The Trend Quality indicator was first introduced by David Sepiashvili.
It is a trend detection and estimation tool that is based on a two-step filtering technique. It measures cumulative price changes over term-oriented semicycles and relates them to “noise.”
The Trend Quality indicator works in a similar manner to the oscillator. Higher values mean a higher quality of the trend, however, a trader must identify the direction on his own.
That indicator is displayed in a separate window placed just below the main trading chart.
It fits all kinds of timeframes and currency pairs.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Trend Quality indicator in MT4?
Download the Trend Quality.rar archive at the bottom of this post, unpack it, then copy and paste the Trend Quality.ex4 or Trend Quality.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Trend Quality indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Download Free Forex MT4 Trend Quality Indicator
To download the Trend Quality Indicator for Metatrader 4 (MT4) for free just click the button below: