Essential technical and visual aspects of the trend indicator can be modified to suit one’s trading style or personal trading preferences.
Here is a breakdown of all the indicator’s settings and options with a brief explanation for each.
(To access all the technical settings of the trend indicator simply go to Chart in the top Meta Trader menu, choose Indicator list, click on TrendViper and then click on Edit.)
Variable – Value – Short explanation
- Count Bars – 1000 – The number of bars used for upper time frame filter (leave at 1000)
- ADX Filter Signals – True / False – Turns On/Off ADX filtering on MA crossover signals
- ADX Threshold – 25.0 – Signals will be generated only if ADX is greater than this number (from 0 to 100)
- Show Arrows – True / False – Show or hide signal arrows on the screen and turn On/Off trading signals
- Alert Condition – On Bar Closed / Immediately / Immediately with min. distance – Issue signals after MA crossover and candle close. This can be set to immediately after MA crossover or immediately with defined points
- Min Distance (points) – 5 – Define the number for the above setting of Immediately with minimum distance alert condition
- Confirm On Next Upper TF (time frame) – False / True – Signals will be generated only if the same trend is confirmed on upper time frame
- Show Lines – Moving Averages / Crossovers / None – Show both Moving Averages on the chart, show crossovers as a single line, or do not show any MAs on the chart.
- Pop Up Alerts – True / False – Turn on and off pop up alerts with sound on MT4
- Email Alerts – True / False – Turn on and off email alerts
- Notifications – True / False – Turn on and off push notifications to mobile
- Fast MA Settings: Period – 5 – Define the fast Moving Average period
- Fast MA Settings: Method – Simple / Exponential / Smoothed / Linear Weighted – Define the type of the fast Moving Average
- Fast MA Settings: Apply To – Close Price / Open Price / High Price / Low Price / Median Price / Typical Price / Weighted Price – Define the fast Moving Average application
- Slow MA Settings: Period – 50 – Define the slow Moving Average period
- Slow MA Settings: Method – Simple / Exponential / Smoothed / Linear Weighted – Define the type of the slow Moving Average
- Slow MA Settings: Apply To – Close Price / Open Price / High Price / Low Price / Median Price / Typical Price / Weighted Price – Define the slow Moving Average application
- ADX Period – 14 – Changes ADX setting. 14 is used as the standard
- ADX Apply To – Close Price / (options as above) – Define the ADX application
- Use Auto TFs – True / False – Set automatic detection of upper time frames in Candle Direction to on and off. If this feature is set to false, you will be able to manually enter the time frames for the Candle Direction. Use Custom TFs for manual settings.
- Custom TF 1, Custom TF 2, Custom TF 3 – 1 Hour, 4 Hours, 1 Day – Custom settings for time frames of candle direction. It can only be used if previous Use Auto TFs setting is set to False. You can choose any time frame that is available on your MT4 terminal.
- Show Panel – True / False – This setting shows or hides the Smart Display on the charts
- Text Color – White – Modify the color of the indicator’s visible text and arrows on the screen
To adjust this custom indicator to your preferences you can experiment with modifying the most important settings in TrendViper, which are:
Fast MA Period (default is set to 5 EMA)
Slow MA Period (default is set to 50 EMA)
ADX Threshold (default is set to 25)
Settings can be modified to reflect any trading strategy. There are many possibilities.
Refer to our free guide on Moving Average Crossovers for more information on using moving averages.
Visit the indicator’s main page MT4 Trend Indicator TrendViper