Configuring the Trends Indicator for MT5

The Quantum Trends indicator is a ‘sister’ indicator to the Quantum Trend Monitor, and work together hand in hand, to keep you in and surfing the trend. This indicator has been designed to be a leading indicator of trend, and is therefore extremely sensitive to the minor reversals and pullbacks which occur in all trends. This is where the TrendMonitor becomes so powerful, keeping you in for the longer term. The Trends indicator has also been designed to show you simply and clearly when a trend is potentially starting, ending, or simply moving into a minor congestion phase. All this is achieved with the trend dots, which change color accordingly.

As with all the Quantum trading indicators, the Quantum Trends is best used in multiple timeframes which will then give you visual signals to changes in trend, both upstream and downstream of your principle trading chart.

  • The Quantum Trends indicator works in all timeframes
  • The indicator can be ‘fine tuned’ to your own preferences in terms of the speed with which the indicator will react to possible changes in trend

Applying the Indicator

Open your MT5 platform and in the main menu, select View > Navigator to open the Navigator window which appears at the left hand side of your workspace.

In the Navigator window, expand the Indicators tree by clicking the “+” symbol. Find the Quantum tree and expand it by clicking the “+” once again to reveal the full list of Quantum Trading indicators.

To start using the indicator, you can click and drag QuantumTrends from the Navigator to a chart or you can also double-click QuantumTrends (which will then be applied to the currently selected chart). Doing either one of these will display the Custom Indicator window where you can configure all the various user settings for your Quantum Trends. These options are grouped and can be accessed by selecting the tabs which will be discussed further in the following sections. Once you are done customizing the indicator’s options, click OK to run the indicator.

Common tab

You can find here basic information about the indicator like its name, description, and version number.

Inputs tab

You can configure the indicator by changing its variables listed in this tab. We will discuss further each configurable input of the Quantum Trends below.

Colors tab

The Quantum Trends indicator uses 3  dot plots.

  • Bullish – When a bar is in a bullish trend, the indicator puts a Bullish dot on it. Its default color is Aqua.
  • Bearish – When a bar is in a bearish trend, the indicator puts a Bearish dot on it. Its default color is Red.
  • Congested – When a bar is in congestion, the indicator puts a Congested dot on it. Its default color is LightGray.

You can change the color and width of each plots here by clicking their Color and Width value fields. A drop down menu will appear which allows you to choose a new color or width for each plot.

Visualization tab

The indicator’s visibility can be toggled on or off in different contexts with the options in this tab.

Dependencies tab

Please make sure that the “Allow DLL imports…” option is checked/ticked before running the indicator. This is required by all Quantum indicators to properly communicate with its accompanying DLL file. Alternatively, you can set this option globally by selecting in the main menu, Tools > Options > Expert Advisors tab and checking/ticking the “Allow DLL imports” option.

Configuring the Indicator

Let’s go back to the Inputs tab and explore the ways on how to customize the settings of your Quantum Dynamic Price Pivots indicator.

Account Email

When running the Quantum Trends for the first time in your trading account, you need to enter the email you used to register in the Quantum Trading Indicators Enablement System – http://enable.quantumtrading.com/ as part of its verification process. You only need to do this once as the email is stored in the terminal’s global variable cache after it is entered initially. Please make sure that you enter your email correctly and exactly without any extra spaces before and after it. If you made an error, simply fill this field again to update it.

Sensitivity to Congestion

This parameter has been provided to allow you to fine tune the indicator to your own trading style and attitude to risk. Increasing its value makes the indicator more sensitive to detecting congestion phases of price action. In the indicator, this means that you will see more of the gray dots.

This is a purely personal choice, and a user input we have included to allow you to have control over the indicator, and whether you want to be alerted earlier to potential weakness or pauses in the trend, or are happy to wait before such changes are signaled slightly later and over shorter periods on the indicator.

Removing the Indicator from the Chart

Open the chart’s Indicator List window by pressing Ctrl+I. You can also right-click the chart and select Indicator List from the context menu.

Select QuantumTrends and click the Delete button then click the Close button.