Price Trend Light is an indicator that can be found within the MQL5 market, we have linked to it below so you know exactly which indicator we are looking at. The indicator was first released on the 5th of October 2015, it has been updated a number of times, the most recent update was on the 8th of June 2016 and the indicator is currently on version 2.1.
The Price Trend Light indicator was designed to be used on the MetaTrader 4 trading platform. It was designed to follow the movement of the prices and to provide information on trends to follow with breaks on the maximum and minimum values. It has simple graphics built-in to try and keep things as simple as possible. Alerts can be set up when the indicator sees prices cross the tend levels.
The input parameters that are available to be changed are:
- TimeFrame Period
- Rectangle Graphic Setup (colors, line style, width…)
- Sound and Popup Setup
- PopUpModeMinMax to enable PopUp on High/Low signal
- PopUpModeOpen to enable PopUp on Open signal
- SoundMode to enable Sound
- Sound: you can change with your favorite sound
The Price Trend Light indicator can be purchased for $30, this buys the indicator outright for unlimited use, there is also the option to rent the indicator for 1 month, this will cost you $10 per month. There is also a free version available, this will allow you to test out the indicator, we are not sure what the limitations of the free account are.
There are three different reviews for this indicator, the overall rating is 4.5 out of 5 stars which is a very good score.
“Very nice tool” – User Comment
“Nice indicator!” – User Comment
They don’t really give a lot of information, so we would recommend that you download and try out the free version, this will give you the opportunity to try out the software and to make sure that it is functioning properly and that you are able to set it up to work as intended.
This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/12120