Percent R Trend Exhaustion MT4

Percent R Trend Exhaustion MT4

Overview

The %R Trend Exhaustion Indicator is a powerful technical analysis tool adapted from TradingView for MetaTrader 4. It helps traders identify trend exhaustion points, potential reversals, and trend continuation signals across various market conditions. With multiple display modes, customizable settings, and enhanced features, this indicator is suitable for diverse trading strategies.

Recent Improvements

• Fixed HighLow, Momentum, and PercentRank smoothing modes for improved signal accuracy.

• Resolved an issue where selected strategy signals were not displayed on the chart.

Key Features

• Trend Exhaustion Detection: Uses fast and slow lookback periods to identify overbought and oversold conditions.

• Flexible Display Modes: Choose from Oscillator, Overlay, or Candle modes for chart visualization.

• Customizable Smoothing: Select from smoothing methods like Simple Moving Average (SMA), Exponential Moving Average (EMA), Hull Moving Average (HMA), Weighted Moving Average (WMA), Volume-Weighted Moving Average (VWMA), and more.

• Multiple Strategies: Supports six trading strategies, including trend following, reversals, and crossover signals.

• Alert System: Configurable alerts for trend starts, reversals, crossovers, and trade signals.

Input Parameters

Display Settings

• Display Mode: Choose Oscillator, Overlay, or Candle visualization.

• Formula: Select Standard (2 Period) or Average calculation method.

• Source: Use price data such as Close, Open, High, Low, Median, Typical, or Weighted.

• Exhaustion Threshold: Set the level for overbought/oversold conditions.

• Smoothing Type: Choose from SMA, EMA, HMA, RMA, WMA, VWMA, SWMA, HighLow, Linear Regression, Median, Momentum, or Percent Rank.

• Average Formula MA: Define the moving average period for the Average formula.

• Highlight Crossovers: Enable or disable crossover signal plotting.

• Plot Zero Line Crosses: Enable or disable zero line crossover signals.

Dual Signal Setup

• Fast Length: Set the lookback period for the fast signal.

• Fast Smoothing Length: Define the smoothing period for the fast signal.

• Slow Length: Set the lookback period for the slow signal.

• Slow Smoothing Length: Define the smoothing period for the slow signal.

Alerts

• Trend Start Alerts: Enable alerts for bullish or bearish trend starts with custom messages.

• Trend Break Alerts: Enable alerts for bullish or bearish trend reversals with custom messages.

• Crossover Alerts: Enable alerts for bullish or bearish crossovers with custom messages.

Trading Strategies

• Long/Short Deals: Enable or disable long or short trade signals.

• Trade Alerts: Enable alerts for buy or sell signals with custom messages.

• Strategy Entry: Choose from six strategies: Trend Following at Square, Reversal at Square, Reversal Trade at Triangle, Re-enter Trend Trade at Triangle, Pings, or Zero Line Cro