Lopez Trend 4.0

Metatrader (MT4/MT5) Indicator

"If everyone is thinking alike, then somebody isn't thinking."
- George S. Patton
The Pz Lopez Trend indicator tracks the market trend with an unmatched reliability, by ignoring sudden fluctuations and market noise. Its winning ratio is around 85%.
  • Amazingly easy to trade
  • Find oversold/overbought situations
  • Enjoy noise-free trading at all times
  • Avoid being whipsawed in intraday charts
  • The indicator analyzes its own quality and performance
  • It includes a multi-symbol and multi-timeframe scanner
  • It implements a multi-timeframe dashboard
The indicator is suited to trade low timeframes, because it ignores sudden price spikes or corrections, by reducing market noise around a mean price.
  • The indicator needs no optimization at all
  • It implements a multi-timeframe dashboard
  • It implements email/sound/push alerts
  • The indicator is non-repainting
Enhance your trading activity and be steady when everyone else is shaky, just like our customers have already done.

Video

Anatomy of the indicator

The Pz Lopez Trend indicator displays a colored line surrounded by a price band. The colored line is the mean price of the security, and the price band represents the overbought/oversold levels. If the mean price is blue you should be looking for long trades when the market is not overbought, and if the mean price is red, you should be looking for short trades when the market is not oversold.

A trend change in the indicator is not a signal to trade right away and close opposite trades! The bands should be used for timing.

Example Strategy

There is a myriad of strategies which can be developed using the Pz Lopez Trend indicator, being the simplest of them a reversal system which trades only when the close price hits the mean price or the bands, thus avoiding trading when a sudden spike or correction takes place and the market is panicking.

The rules can be summed up as follows. Buy during an uptrend when the price hits the mean price or oversold band, and sell during a downtrend when the price hits the mean price or the overbought band. This simple strategy will keep your losses to a minimum when the market is flat or jumpy.

However, you can create your own trading strategies, as long as trades are taken inside the bands or close to the mean price. Almost any indicator can be useful in conjunction with the Pz Lopez Trend indicator without altering the value it provides: isolation from market noise.

Additionally you can fine-tune the entry strategy using other discretionary price action ingredients, such as false breakouts, pin bars, fractals, candlestick patterns or breakouts. Just make sure not to buy above the overbought level, and not to sell below the oversold level.

Developers

In order to build your expert advisor, you can read data from the indicator using the iCustom() function as exemplified below. Read more information about the iCustom() function here.

//---- Read value from trend and signal buffer
int start()
{
// Read values
double trend  = iCustom(Symbol(), Period(), "PZ_LopezTrend_LICENSENUM", 5, 1);
double signal = iCustom(Symbol(), Period(), "PZ_LopezTrend_LICENCESUM", 6, 1);
// Do something
if(trend  == OP_BUY)      { /* Your code if trend is currently bullish */ }
if(trend  == OP_SELL)     { /* Your code if trend is currently bearish */ }
if(signal == OP_BUY)      { /* Your code for bullish trend change */ }
if(signal == OP_SELL)     { /* Your code for bearish trend change */ }
// Exit
return(0);
}
Frequently Asked Questions
Is this an always in the market indicator?
Can I drag and drop the dashboard on the chart?
Where should I place the stop-loss and take-profit?
The indicator looks very good. Are you sure it does not repaint?
Which are the input parameters?