Ultra Trend is one of the well known indicators made for MetaTrader 5 now.

The way how Ultra Trend is calculated is simple:

• Multiple period Jurik smooth values are calculated.
• Slope of each instance of such value is checked.
• Overall result of sloping up and sloping down is taken as a current trend.

Even though at the first glance it seems that such an indicator will lag a lot, it is not the case, and it is rather useful for trend determination.