The auto trend indicator decides direction from structure, not from an average. It remembers the last confirmed swing high and swing low. Direction changes only when a close breaks one of those two levels.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 4: Auto Trend Up, Auto Trend Down, Auto Buy, Auto Sell |
| Alerts | popup, push notification, email, sound |
| Inputs | 11 |
What the Auto Trend Indicator draws on the chart
`Auto Trend Up` runs lime green while direction reads up.
`Auto Trend Down` runs crimson on the other side.
`Auto Buy` uses arrow 233 and `Auto Sell` uses arrow 234 at each flip.
A panel reports the current state and the two levels behind it.
- Auto Trend Up: line, lime green, width 2
- Auto Trend Down: line, crimson, width 2
- Auto Buy: arrow, lime, width 3, arrow code 233
- Auto Sell: arrow, red, width 3, arrow code 234
How the Auto Trend Indicator calculates its values
Two levels get remembered
`InpSwing` `4` confirms a fractal with four bars either side. The most recent confirmed high and low get carried forward on every bar until something newer replaces them.
A close decides the flip
Closing above the remembered high sets direction up. Closing below the remembered low sets it down. Between the two the previous state simply holds.
Why an average is missing
Averages lag by construction and produce a direction even in a flat market. Reading structure instead means the state changes only when price does something a chart reader would notice.
How to read the signals
A long unchanged state means price stayed between the two levels.
Flips confirm on a close, so a wick through a level changes nothing.
`InpSwing` `4` puts each level at least four bars behind the current candle.
Marks sit `InpArrowOffset` `45` points from the bar.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
`EnableAlerts` covers the routes and ships true with `EnablePopup`. Flip `EnablePushNotify` for a phone, `EnableEmail` for mail, or `EnableSound` to sound `SoundFile`. Those three sit off. State changes report once a bar.
Every Auto Trend Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
InpSwing |
Swing fractal strength (bars each side). Bars either side that confirm a fractal, default `4`. | 4 |
Display settings
| Setting | What it does | Default |
|---|---|---|
InpArrowOffset |
Arrow offset (points). Points between a flip mark and the bar, default `45`. | 45 |
ShowPanel |
Show trend-state panel. Show the trend state readout, default `true`. | on |
PanelCorner |
Corner (0=UL,1=UR,2=LL,3=LR). Which corner the state readout uses, default `0`. | 0 |
PanelBg |
Readout background colour, default `clrBlack`. | black |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Master switch over the flip alerts, default `true`. | on |
EnablePopup |
Terminal message on a flip, default `true`. | on |
EnablePushNotify |
Phone buzz on a flip, default `false`. | off |
EnableEmail |
Email on a flip, default `false`. | off |
EnableSound |
Audio cue on a flip, default `false`. | off |
SoundFile |
(see inputs panel) | alert.wav |
Settings that fit your chart
Structure reading suits charts with real swings. EURUSD H1 is the reference chart, where the state flips every few days. On M5 the levels update constantly. H4 holds one state for weeks.
When the Auto Trend Indicator fails
A four-bar fractal is shallow, so minor swings can set the levels.
In a tight range price breaks both levels repeatedly.
The state is binary, so it never reports a market with no direction.
Copy the compiled Auto Trend Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Related on forexmt4systems.com: Ichimoku Trend Strategy.
Background reading on the method behind the Auto Trend Indicator: High Speed vendor Feed on Wikipedia, ibands (BANDS) at the MQL5 Documentation.
Download the Auto Trend Indicator for MT4 and MT5
The zip holds the compiled Auto Trend Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
Download this indicator free
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FAQ
Why does InpSwing 4 use a fractal rather than an average?
Because a fractal marks a place price actually turned. An average produces a number on every bar whether or not anything happened, which is why it reports a direction even in a flat market.
What does InpSwing hold between flips?
The last remembered swing high and low. While price closes between them nothing changes, so a long unchanged state simply means the market has stayed inside that range.
Can a wick flip the Auto Trend Up state?
No. The test reads the close only, so a spike beyond a remembered level that pulls back inside the same bar leaves the direction untouched. Only a completed close can change it.
How late is a level set by InpSwing 4?
At least four bars, since the fractal needs four newer bars to close without beating it. The level a flip tests is therefore never the freshest turn on the chart.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Auto Trend Indicator as one input. Always backtest before trading live.
External references
- Learn more about the underlying method in High Speed vendor Feed on Wikipedia.
- For wider market background, see ibands (BANDS) at the MQL5 Documentation.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.