Theil_Sen Indicator Free – indicator for MetaTrader 4

Theil_Sen Indicator Free – indicator for MetaTrader 4

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This is essentially a tool to estimate the general trajectory of a line drawn from a collection of data points. The estimated line is derived by first performing regression on the series of values and then calculating the slope of this resulting regression line.  The data set selection can be a simple moving average, exponential moving average, close prices, high/low prices and they are automatically collected from the meta trader chart . You only need to select one type of data you want to collect. It support multiple currencies.

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iTSlope(asymbol,timeframe,regperiod,adataset,rmp,rtc,slope,line_nickname,enable_text,ashift);
//This is the main function to use in your EA. Just input your own parameters. 
//Manual traders can use this or use the indicator directly. 

As usual, this supports multiple currencies at the same time and I am including the “BreakPoint” tool here but it is not needed by the indicator itself.

This is what the trend-line look like in a ranging market:

Theil_Sen Indicator Free – Download Instructions

Theil_Sen Indicator Free is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.Subway provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly.

How to install the software?

  • Download the mq4 file from the zip file.
  • Copy the mq4 file to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader Client
  • Select Chart and Timeframe where you want to test your indicator
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
  • Right click on the mq4 file.
  • Attach to a chart
  • Modify settings or press ok
  • Indicator should be available on your Chart

How to remove tim.mq4 from your Metatrader 4 Chart?

  • Select the Chart where is the Indicator running in your Metatrader Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

MT4 Indicators Download below:

Theil_Sen Indicator Free – indicator for MetaTrader 4