Kenko Trend Indicator mt5

Interpreting Forex charts can be challenging, especially for those without years of experience in the field. The Kenko Trend Indicator is a tool designed to simplify this process by identifying Forex trends and helping traders avoid false reversals. It’s a non-repainting indicator that uses an innovative step and ladder technique to draw renko style trend following blocks over the chart.

Understanding the Kenko Trend Indicator

The Kenko Trend Indicator is a unique tool for forex market analysis. It draws blocks only when a new candle opens, and the block size is determined by the number of pips set by the user. The closing price of the last candle is used to determine whether a new block should be drawn, ignoring the wicks that often give false signals. These blocks are then drawn over the candlestick chart, providing a clear visual representation of the trend.

Compatibility and Timeframes

The Kenko Trend Indicator is compatible with all trading instruments and timeframes. Although the developer recommends the 1-hour (H1) timeframe as a personal preference, users can utilize any timeframe according to their trading strategies and goals. This flexibility makes it a versatile tool for a wide range of forex trading styles.

Customizable Settings

One of the key features of the Kenko Trend Indicator is its customizable settings. Users can adjust the block size in points (or pipettes) according to the volatility of the instrument being analyzed or the timeframe being used. The default block size is set at 200, equivalent to 20 pips. Another customizable setting is the number of history candles in use, which determines how many candles the indicator will analyze when launched. This feature allows users to control the amount of processing power and resources the tool uses, making it adaptable to various system capabilities.

Keeping Your Charts Up to Date

It’s essential to keep your Kenko Trend Indicator up to date for accurate forex market analysis. If the MetaTrader is closed and reopened, or if the internet connection is lost for a while and the market moves, users are advised to remove and re-insert the indicator to update the blocks. An MT4 version is also available for those who prefer this platform.

FAQ

1. Where can I find independent testing of the Kenko Trend Indicator?

Independent testing of the Kenko Trend Indicator can be found on the forexroboteasy.com website. Users can also subscribe to updates on the results of this product testing.

2. Can I share my experience using the Kenko Trend Indicator?

Absolutely. Users are encouraged to share their experiences using this product to help others make informed decisions about its usability and effectiveness.

Overall, the Kenko Trend Indicator is a powerful tool for spotting forex trends and avoiding false reversals. It offers customizable settings, works on all instruments and timeframes, and uses a unique step and ladder technique to draw trend-following blocks over the chart. It’s a valuable addition to any trader’s toolbox, whether they’re new to the world of forex trading or an experienced trader looking for a more efficient way to analyze the market.