What is the Trend Percentage Indicator for MT4?

The Trend Percentage Indicator (TPI) is one of the most popular indicators for forex trading. It provides a visual representation of the current trend in the currency market. The Indicator shows how much of the recent move is due to a change in the overall direction, as opposed to short-term fluctuations. Its value typically ranges from 0 to 100, with higher values indicating that the movement is stronger and more pronounced.

Trend Percentage Indicator

Download the Free Trend Percentage Indicator

How to use the Trend Percentage Indicator for MT4?

The Indicator consists of two lines: one displaying positive (green) and negative (red) percentages and the other showing those percentages as percentages. The longer the line on the positive side of the Indicator, the stronger the current trend. The longer the line on the negative side of the Indicator, the stronger the resistance against further price movements in that direction.

Trend Percentage Indicator MT4 trading settings

The percentage indicator is usually configured using three different components, represented by three different colors: red, yellow, and green. The color of each element represents the percentage change in price from one time period to another.

Trend Percentage Indicator Advantages

The Indicator’s usefulness stems from its ability to highlight potentially favorable trends within a given market and identify potential turning points and reversals in a currency’s direction. One of the main advantages of using the trend percentage indicator is that it provides an objective measure, making it easier to understand and communicate.

Trend Percentage Indicator Disadvantages

The disadvantage of this Indicator is that it does not consider any short-term fluctuations in the data. This can lead to an inaccurate assessment of whether or not a particular trend is strong or weak. Additionally, this Indicator only works well when there are enough observations to calculate meaningful percentages. The rate may not be accurate if only a few words.

TP Indicator installation on MT4

To install the Trend Percentage Indicator on the MT4 platform, follow these steps:

  1. Download the Trend Percentage Indicator .ex4 file.
  2. Open the MT4 platform and click “File” in the top left corner.
  3. Select “Open Data Folder.”
  4. Go to the “MQL4” folder, then the “Indicators” folder.
  5. Copy the .ex4 file into the Indicators folder.
  6. Close the MT4 platform and restart it.
  7. Go to the “Navigator” window on the left side of the forum.
  8. Find the Trend Percentage Indicator in the list of custom indicators and drag it to your cart.
  9. Adjust the Indicator’s settings as needed and apply them to your chart.

Trend Percentage Indicator mt4

Trend Percentage Indicator mt4 free download

Conclusion

A trend percentage indicator is an effective tool to help investors identify potential trends and reversals in a currency’s direction. While its disadvantage is that it does not take short-term fluctuations into account, this Indicator remains one of the most popular among traders.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Telegram Channel | Quora | Reddit

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