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.
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