Megatrend Assistant is a state-of-the-art indicator, incorporating the experience gained over several years of using the popular Megatrend Monitor SF286. So we can say that this is an improved version of this indicator.
Megatrend Assistant is a very powerful tool that will be useful for both professional traders and beginner traders in trading. With the Megatrend Assistant indicator you will be able to replace dozens of screens, and “scan” the dynamics of market behavior and the statistics of twenty-eight instruments in six different time frames into a single graph. This makes the task much easier for users.
In addition to the main known features of the Megatrend, Megatrend Assistant allows you to:
- Change the number of bars in the fractals used in the calculations.
- Work both on a full bar and using the current price.
- Control current propagation on all specified instruments in real-time.
- Move the area boundaries with the mouse.
- The indicator shows you the areas of consolidation, upward (downward) trend, and investment in different colors, for better recognition.
By simply clicking the mouse button with the name of the desired instrument, you can open yours with the default template in the configuration. By sliding the area boundaries with the mouse, you have the possibility to choose the best levels to open and close the signals, as well as choose the most suitable instruments for trading in your preferred strategies. Custom templates will help you find the best opportunities to get in and out during trading.
For the correct operation of this indicator, and to obtain the best results of it, Megatrend Assistant must be configured in a graph with an M1 time frame.
Megatrend Assistant is a very advisable tool for market analysis, to look for the most active and correlated currency pairs, symbols that are currently the best allies and rivals, as well as to choose a decision for opening and closing positions.
The Main Parameters of this Indicator
- Working symbol – list of symbols
- TF 1 – TF 6 – directory of time limits
- The bars count for the calculation – sets the number of bars for the calculations
- Reversal risk color – color of the signal on the investment risk
- Linewidth Inside Flat – line width within the consolidation area
- Linewidth Outside Flat – line thickness after exiting a consolidation area
- Colour of the investment risk area – the color of the investment area
- Timer period – timer period in seconds
- Click open tf – open chart time frame
The price of this indicator is 59 USD, and you can find it in the MQL market in the indicators section. A free demo version is also available for those who wish to test the Megatrend Assistant prior to making a full purchase.
This indicator was created in March 2017, and since then has accumulated a lot of positive reviews from its users, so we can confirm that it is an excellent instrument to consider. We are talking about a very complete indicator with multiple configurations and customization options. More suitable for experienced traders, although a previous study is also suitable for beginner traders, who are advised to use the free demo version beforehand to become familiar with the indicator.