The best trend indicator "Ultra wizard".
One of the best options for the trend indicator, Ultra wizard, allows you to fully assess the state of the trend, displays data on the probability of a reversal, and also provides a lot of additional information. It can truly be called the best trend indicator, since the information it provides gives a complete picture of the current trend in the Forex market.
Download the Ultra Wizard indicator.
The main advantage of the tool is that its work uses algorithms of such well-known and proven indicators as Stochastic, MACD and some other scripts, which allows us to hope for the reliability of the data obtained.
After you have installed the indicator, you need to configure its operation; this indicator has many customizable parameters, so I will not provide a detailed description of them in this article, but will add them to the archive with the program.
Basic indicators:
1. Location – lower right corner, quite inconvenient if there is a downward trend in the market, but you can adjust it using the chart scale or move it to a convenient corner using the mouse.
2. Probability – percentage probability of trend continuation, maybe two symbols are displayed:
• LONG – indicates the presence of an uptrend; the name itself indicates the conclusion of purchase transactions.
• SHORT – indicates the dominance of a downward trend; in this case, sell positions are opened.
Apparently the symbols are compiled depending on the positions being opened - long or short.
In addition, next to this indicator there are several cubes, their color changes depending on the price movement on ticks, green is up, red is down.
3. Multi-Info – directed force can have either a plus or a minus sign, the value of the indicator increases the likelihood of movement in the corresponding direction.
4. Indice Strength – an indicator characterizing the strength of a trend on a ten-point scale; the higher it is, the lower the probability of a reversal.
5. Currency Pair Range – is responsible for changing the range in which the price fluctuates; it can be used as a guide when trading on short time intervals.
6. Trend direction – the last two indicators indicate the trend direction based on data from the MACD and Stochastic indicators; they serve as filters for trend signals.
Ultra wizard performed quite well during testing and earned a score of 4 points. It can be used to find the most convenient entry points into the market and to determine the direction of transactions.