Identifying the trend of the market is an essential task of traders. Trendometer implements an advanced algorithm to visualize the trend of the market. The major focus of this indicator is to evaluate the market in the lower time frames (i.e., M1, M5 and M15) for the scalping purposes. If you are a scalper looking for a reliable indicator to improve your trade quality, Trendometer is for you. The indicator runs on a separate window showing a histogram of red and green bars. A two consecutive green (red) bars is a good sign to enter the market in Long (Short) direction. The number of consecutive bars with the same color is a measure of the power of the trend. In the absence of one or more bars, the interpretation of the indicator is that the market price is ranging (i.e., consolidation).
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