General – getting started
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
Installation
Open your MT4 platform and in the top level navigation:
- Left click >View
This will open the following window:
- Left click > Navigator
This will open the following window:
- Left click > + icon alongside Custom Indicators
This will open the following window:
- Left click and HOLD – drag the QuantumTrendMonitor indicator to a chart, and RELEASE
The following pop up window will then appear:
Common Tab
The Common tab displays two boxes. Both of these should be checked as shown. This ensures that you have enabled the DLL imports as explained in the installation instructions.
Inputs Tab
Neutral Constant
There is only one user input value to modify under the Inputs tab and that’s a parameter called neutralConstant. This works in the same way as for the Quantum Trend Monitor.
This parameter has been provided to allow you to fine tune the indicator to your own trading style and attitude to risk. The value is a constant expressed in percentage, which is then applied in calculating the sensitivity of the trend when a market pauses or moves into a congestion phase. In this case, a trend pause is denoted with white trend dots.
Increasing this value above the default of 20 will increase the number of trend dots in the congestion phase, in other words, highlighting possible congestion phases earlier and for longer periods. Reducing the value below 20, will decrease the number of trend dots in the congestion phases of price action. In other words, increasing the value above 20, the indicator will become more sensitive to congestion phases and more white trend dots will appear, decreasing below 20, the indicator will become less sensitive, with fewer white trend 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 signalled slightly later and over shorter periods on the indicator.
- Double left click in the Value field, and the field will turn white with your cursor flashing. Enter a number such as 10, to reduce the sensitivity, or 40 for example to increase the sensitivity
- Click return to save any changes
Colors Tab
Shown above are the default color and style associated with the Trends dots on the chart. The color can be changed as follows:
- Double left click alongside the color you wish to change in the Color field
- Left click on the drop down arrow and a color menu will appear
- Select your preferred color which will then appear as your selection
The width of the Trends dots can also be changed. The default is size 3, but the dots can be made larger or smaller as follows:
- Double left click alongside the color you wish to change in the Width field
- Left click on the drop down arrow and a menu will appear with widths from 1 to 5
- Select your preferred size ( 1 is the smallest, 5 the largest) which will then increase or decrease the size of your trend dots on the chart
Visualization Tab
These are the default settings for MT4. There are no user inputs for the indicator.
When you are happy with all your changes…
- Left click the OK button at the bottom of the window, and your Quantum Trends indicator will be applied to your chart
At this point your Trend Monitor indicator will look something like this:
Finally, to remove the indicator from your chart:
- Right click on the chart and the following pop up window will appear:
- Left click on Indicators List from the above menu and the following menu will appear:
- Left click the indicator, and then left click the Delete button on the right
