Optimized Trend Tracker OTT

Optimized Trend Tracker (OTT) is a trend indicator for MetaTrader 5. It draws a trend-tracking line that moves above or below price depending on direction, and it can add a support line, colour highlights and signal labels. It is meant for chart analysis, either by eye or through an Expert Advisor that reads its buffers.

How it works

The indicator starts from a moving average of the price source you select. Around that average it builds the OTT line using a percentage factor, so the line sits below price during an uptrend and above price during a downtrend. When the market changes direction, the line switches side and its colour changes.

Moving average types

The base average can be set to one of eight methods:

• SMA, EMA and WMA for standard simple, exponential and weighted averages
• TMA for a triangular average
• VAR for a variable-length average
• WWMA for the Welles Wilder style average
• ZLEMA for a zero-lag exponential average
• TSF for a time series forecast

Faster methods react sooner but tend to flip more often in sideways markets. Slower methods give fewer changes but later ones.

Signal options

• Signals when the moving average crosses the OTT line
• Signals when price crosses the OTT line
• Signals when the OTT line changes colour
• Optional highlighting of uptrend and downtrend zones
• An optional support line drawn from the selected moving average

Signals can be shown as chart labels, and the matching buy and sell values are stored in indicator buffers.

Markets and timeframes

The indicator uses price data only, so it can be attached to any symbol and timeframe in MT5, including forex pairs, metals, indices and others your broker offers. Trend tools behave differently depending on volatility and timeframe, so test your chosen combination on historical data and on a demo account before using it on a live chart.

Settings

Default values and allowed ranges are not listed here, so check them in the inputs window after attaching the indicator.

Using it in an Expert Advisor

The indicator exposes buffers for buy and sell signals, colour-change signals and the uptrend and downtrend highlights. A developer can read these with the standard indicator handle functions. Confirm the buffer index order in the data window or with a short test script before building logic on it.

Risk

Installation

1. Download and extract the archive to get the indicator file.
2. In MetaTrader 5, choose File, then Open Data Folder.
3. Open MQL5, then Indicators, and copy the file there.
4. Restart the terminal or refresh the Navigator panel.
5. Drag the indicator from the Navigator onto a chart and set your inputs.