Hey fellow traders! Today, we're diving into an exciting tool for MetaTrader 5 that can give your trading strategy a real boost: the NET (Noise Elimination Technology) indicator. This nifty feature is essentially a rolling Kendall rank correlation coefficient that was initially showcased in one of the RSI indicators posted in the code base.
So, what does this mean for us? Well, NET is designed to help you figure out the "trend" of a simple moving average (SMA). But here’s the kicker: it doesn’t correlate directly with the slope of the SMA. You might notice that the slope and the trend color can sometimes show different signals, so don’t be surprised if they diverge!
- Keep an eye on the color changes of the indicator—this can signal potential trend shifts.
- Before jumping into live trades, take some time to experiment with the NET period to find what works best for your trading style.
Happy trading, and may the trends be ever in your favor!
Comments 0