What are the best trend strength indicators to use for MetaTrader, TradingView, and Thinkorswim?

1 Average Directional Index (ADX)

The ADX is a widely used indicator that measures the strength of a trend based on the difference between two directional movement indicators (DMI+ and DMI-). The ADX ranges from 0 to 100, with higher values indicating stronger trends. Generally, traders use a threshold of 25 or higher to determine a trending market, and lower values to indicate a ranging market. The ADX does not show the direction of the trend, only its strength. To use the ADX on MetaTrader, TradingView, or Thinkorswim, you can add it from the indicators menu and adjust the settings according to your preference.

2 Moving Average Convergence Divergence (MACD)

The MACD is another popular indicator that shows the relationship between two moving averages of the price. The MACD consists of a MACD line, a signal line, and a histogram. The MACD line is the difference between a fast and a slow moving average, usually 12 and 26 periods. The signal line is a 9-period moving average of the MACD line. The histogram is the difference between the MACD line and the signal line. The MACD can help identify the direction and strength of the trend by showing the convergence and divergence of the moving averages, as well as the momentum and direction of the histogram. The MACD is available on MetaTrader, TradingView, and Thinkorswim from the indicators menu.

3 Relative Strength Index (RSI)

The RSI is a momentum indicator that measures the speed and change of price movements. The RSI ranges from 0 to 100, with values above 70 indicating overbought conditions and values below 30 indicating oversold conditions. The RSI can also help identify the strength of the trend by showing the divergence and convergence of the price and the indicator, as well as the support and resistance levels of the indicator. The RSI can be added from the indicators menu on MetaTrader, TradingView, and Thinkorswim, and the settings can be customized according to your trading style.

4 Bollinger Bands

Bollinger Bands are volatility indicators that consist of a simple moving average (SMA) and two standard deviations above and below the SMA. The Bollinger Bands can help measure the strength of the trend by showing the expansion and contraction of the bands, as well as the position of the price relative to the bands. When the bands widen, it indicates an increase in volatility and a strong trend. When the bands narrow, it indicates a decrease in volatility and a weak or sideways trend. The price can also bounce or break through the bands, signaling potential reversals or continuations of the trend. Bollinger Bands can be added from the indicators menu on MetaTrader, TradingView, and Thinkorswim, and the settings can be modified according to your preference.

5 Ichimoku Cloud

The Ichimoku Cloud is a comprehensive indicator that combines multiple trend and momentum indicators in one chart. The Ichimoku Cloud consists of five lines: the Tenkan-sen, the Kijun-sen, the Senkou Span A, the Senkou Span B, and the Chikou Span. The Ichimoku Cloud can help measure the strength of the trend by showing the direction and slope of the lines, the position of the price relative to the lines and the cloud, and the color and thickness of the cloud. The Ichimoku Cloud can be added from the indicators menu on MetaTrader, TradingView, and Thinkorswim, and the settings can be adjusted according to your preference.