Hurst Exponent Indicator
Hurst Exponent indicator for MT5 – is a trend following indicator for MT5. free forex indicators. Free trend reversal indicator. The best momentum indicator for MT5.
Description
The Hurst Exponent Indicator for MetaTrader is a time series indicator that tracks the volume memory of an asset’s price. This data is used to analyze the correlation between price consistency and inconsistency series to predict the future.
The indicator essentially helps you determine if the market is trending or moving in a range (sideways). In addition, the indicator is ideal for beginners, intermediate and experienced forex traders.
In addition, it is suitable for various trading styles such as scalping, day/intraday trading and swing trading.
How To Trade With The Hurst Exponent Indicator
The screenshot above shows how the indicator will look on your MT5 platform. It also illustrates how to use the indicator.
The Hurst Exponent is not an oscillator that moves in the same direction as the market trend. Therefore, the direction of the indicator (Hurst Exponent) does not mean a trend shift. This means that it can continue to move higher, for example, in a bear market.
The indicator comes with a blue line that is in a separate window from the main chart. The position of the blue line determines the current state of the financial asset market.
A BLUE line above the 0.6 level indicates that the market is trending (bullish/bearish). Conversely, the market is considered to move sideways (range) when the BLUE line falls below the 0.6 level.
Conclusion
The Hurst Exponent Indicator for MT5 is a tool that helps you measure the permanence/volatility of time series in price in order to anticipate further price movement. Moreover, the indicator is free to download.