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Alpha N Trend Indicator Review

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Alpha N Trend Indicator can be found on the MQL5 marketplace, we have added a link to it below. The indicator was uploaded by Dzhafer Medzhakhed on the 25th of July 2014, it was uploaded as version 1.3 and there have not bee any updates since it was first added to the marketplace.

Overview

Alpha N Trend Indicator can be used with the MetaTrader 4 trading platform and is classed as an indicator. The way that it works is by using a powerful oscillator, it will provide sharp signals for trend following.

The indicator aims to be different from the usual indicator as it wants to give its signals early, towards the start of the trend rather than halfway through. The oscillator will be displayed at the bottom of the chart with green and red bars when the price is on an uptrend it will show green bars when it is on a downtrend it will show red. It is a signal to enter the market when the oscillator changes sign from red to green or green to red.

There are a few parameters that come with the indicator:

-Email_alerts: If equal to “true”, you will receive email alerts when there is a trend change (first green bar after red bars or first red bar after green bars).

-Sound_alerts: if equal to “true”, you will hear a sound alert when there is a trend change (first green bar after red bars or first red bar after green bars).

-Green_histo_width: width of the green bars.

-Green_histo_width: width of the red bars.

-SPEED: an internal parameter that controls the speed parameters of the indicator.

-DEPTH: an internal parameter that controls the depth of calculation of the indicator.

-Number_of_bars: number of the bar that is displayed by the indicator

Service Cost

The indicator can be purchased outright for $15, this will give you unlimited access to it, there is no option to rent the indicator so purchasing it is the only option available. There is a free demo version that will have some limitations, however, we do not know what the limitations of this version are.

Conclusion

There are just three reviews, they have given the indicator an overall rating of 3.4 out of 5.

“I would have given it a 5 star if it has a push notification feature. It does give you false signals but it does anticipate trend change much earlier. It is not a stand-alone indicator but works well in conjunction with others. If you ever make an EA on this one, please let me know.” – A 4-star review.

“Indicator, as any other… with many false signals. I wasn’t able to backtest it (Demo version), so I buy it – and regret immediately. It would be very nice that Lemmnos (member that posted the previous comment) illustrate somehow – why is that indicator “the best one”. That would be very interesting to see.” – A 1-star review.

“Best trend indicator I have tested so far. And I have tested all the trend indicators I could find. I would encourage others to try this indicator and ask questions and provide feedback via comments sections so we can all learn from each other.” – A 5-star review.

So a range of reviews are available, there are also a number of comments but the developer only replied to the first few, we would advise you to contact them with your questions prior to purchasing just to make sure that they are still actively supporting the indicator, we woulda so recommend downloading the free version just to check it out as the reviews are not all positive.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/5337

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