441# Forex Trend Direction Indicator
Trend Following Strategy
Submit by James 22/03/2012
The default version allows you to use two modes, optimized, and manual.
Optimized mode calculates the stop line by using a 14 period EMA smoothed
ATR(14) multiplied by a fixed multiplier of 2.824. In manual mode, you set a
fixed number of pips you want the stop line to be drawn. In this version,
there are two modes:
1.ATR mode (customizable ATR period, multiplier, and smoothing)
2. Fixed stop mode (customizable fixed stop)
The input parameters are as follows:
* UseATRMode - This calculates the stop line based on ATR using customizable
period, multiplier and smoothing.
* NonATRStopPips - If "UseATRMode" is false, then this value is the number of fixed
pips to place the stop line.
* ATRPeriod - If "UseATRMode" is true, then this sets the ATR period.
* ATRMultiplier - If "UseATRMode" is true, then the ATR value will be multiplied by
this value when calculating the stop line.
* ATRSmoothing - If "UseATRMode" is true, then this will smooth the selected ATR
with an EMA of this smoothing period.
* UpArrowColor - The color the Up arrows will display in.
* DnArrowColor - The color the Down arrows will display in.
* ArrowDistance - This can adjust the distance away from the stop line that the
arrows appear. By default, the arrows appear directly above or below the stop line. A
positive number here will move the arrows further away from the price. A negative
number will move it closer to the price.
For the default trend direction behavior, set the following:
UseATRMode = true
ATRPeriod = 14
ATRMultiplier = 2.824
ATRSmoothing = 14
In the picture Forex Trend Direction Indicator forex system in action.
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