Working out if there is a trend

 

Is there a way to work out if say the last 10 hourly candles are in a trend up or down?

What I want to do is find a trend when price nears major points like 1.1, 1.5, 1.6, etc. and then add some orders if the price action has been in an uptrend or downtrend directly beforehand.

 

There is a whole bunch of indicators under the TA link above to tell you about trend up or trend down.

What they can't tell you is how likely the trend is going to continue in the same direction. But it is possible that a strong trend is more like to continue than not.

The best indicator for trend supplied with MT4 is probably ADX. VHF has also been mentioned in this forum, but I find it too laggy. Aroon is another one, but I haven't quite figured out how to use it meaningfully.

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