Hurst Exponent Indicator
Hurst Exponent indicator for mt4 – download free. Trend following indicator for mt4. Best momentum indicator for mt4.
Description
The Hurst Exponent indicator for MetaTrader is a time series indicator that keeps track of the volume memory of the price of an asset. This data is used to analyze the correlation between the consistency and anti-consistency series of the price to predict the future.
The indicator essentially helps you to factor out if the market is trending or moving in a range (sideways). Furthermore, the indicator is ideal for novice, intermediate and experienced forex traders. Also, it suits different trading styles like scalping, day/intraday, and swing trading.
How To Trade With The Hurst Exponent Indicator
The above screenshot shows how the indicator would look on your MT4 platform. It also illustrates how to use the indicator.
The Hurst Exponent indicator isn’t an oscillator that moves in the same direction as the trend of the market. Hence, the indicator’s (Hurst Exponent) direction doesn’t imply the bias of a trend. This implies that it might keep moving to the upside in a bearish market, for instance.
The indicator comes with blue and a 0.5 level (dotted line) that stands on a separate window from the main chart. The position of the blue line determines the current market condition of the financial asset.
The BLUE line above the 0.5 level depicts that the market is trending (bullish/bearish). Conversely, the market is considered to be moving sideways (ranging) when the BLUE line falls below the 0.5 level.
Conclusion
The Hurst Exponent indicator for MT4 is a tool that helps you to measure time series consistency/anti-consistency in price to anticipate further price movement. What’s more, the indicator is free to download.