What it does

Trend Day Strength Meter in this library is a simple session-context study. It compares extension from the session open against ATR and then multiplies that by a basic persistence check, which makes it useful as a quick bias filter rather than as a full market-regime model.

Who this is for

This page is aimed at traders who already know what problem Trend Day Strength Meter is solving and want clearer notes on setup, tradeoffs, and platform coverage.

Key terms for this tool

Review the core trading and platform terms tied to this page before changing settings or using the study in a live workspace.

Trend DayTrend FollowingSession VWAPVolatilitySignal-to-Noise Ratio

What it is not

Trend Day Strength Meter is a chart-context tool. It does not place trades, manage risk automatically, or promise that a specific pattern will resolve in one direction. Use it to organize decisions, not to outsource them.

Chart examples

This chart capture shows the study on a real NinjaTrader workspace. Use it as visual reference, then confirm behavior on your own instrument, session, and timeframe.

Trend Day Strength Meter displayed in a lower panel on a chart, with positive and negative values showing trend-day pressure.

Trend-day pressure meter

A chart showing Trend Day Strength Meter scoring session-open extension and persistence in a lower panel.

Best fit

  • Filtering out mean-reversion ideas on sessions that are stretching cleanly from the open.
  • Checking whether direction is still persistent relative to a recent lookback window.
  • Reviewing day-type behavior during replay or post-session analysis.

Before using it live

  • Import the NinjaTrader 8 ZIP through NinjaTrader's normal import flow, or compile the source block for another platform in a separate panel before adding it to a live workspace.
  • Compare the score against actual trend days and failed trend days from your market.
  • Use it as a session filter so your main setup logic stays honest about the day type.
  • Review how the tool behaves on your actual session template, chart type, and instrument.

Settings to review

Lookback

Controls how many bars back the script checks when deciding whether direction is persisting.

Trend color

Sets the plot color when the score is positive.

Counter-trend color

Sets the plot color when the score is negative.

Installation notes

  1. Import the NinjaTrader 8 ZIP through NinjaTrader's normal import flow, or compile the source block for another platform in a separate panel before adding it to a live workspace.
  2. Compare the score against actual trend days and failed trend days from your market.
  3. Use it as a session filter so your main setup logic stays honest about the day type.

Downloads

FreeIndicators Trend Day Strength Meter for NinjaTrader 8 NinjaTrader 8
Download

After the download

Keep the next step tied to this exact tool

Install it cleanly, subscribe for future updates if this workflow matters, or move straight into a structured request if the tool needs another platform or a custom version.

Source code

These source examples are provided for copy/paste workflows on other charting platforms. Review and test any script in a simulator before using it on a live chart.

TradeStation EasyLanguage MultiCharts PowerLanguage MetaTrader 4 MetaTrader 5 TradingView Pine Script
TradeStation EasyLanguage / MultiCharts PowerLanguage TrendDayStrengthMeter.eld.txt 
{
  Trend Day Strength Meter
  FreeIndicators.com source example.
  Works as a starting point for TradeStation EasyLanguage and MultiCharts PowerLanguage.
}

Inputs: Lookback(10);
Vars: SessionOpen(0), Extension(0), Persistence(0), ATRValue(0), Score(0);

If Date <> Date[1] Then
  SessionOpen = Open;

Extension = Close - SessionOpen;
Persistence = IFF(CurrentBar > Lookback And Close > Close[Lookback], 1, -1);
ATRValue = AvgTrueRange(14);
Score = IFF(ATRValue > 0, Extension / ATRValue, 0) * Persistence;

Plot1(Score, "TrendDay");
Plot2(0, "Neutral");
MetaTrader 4 MQL4 TrendDayStrengthMeter.mq4 
// Trend Day Strength Meter
// FreeIndicators.com source example for MetaTrader 4.
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 DodgerBlue
#property indicator_color2 Crimson
#property indicator_color3 SeaGreen

double Buffer1[];
double Buffer2[];
double Buffer3[];

int init() {
   SetIndexBuffer(0, Buffer1);
   SetIndexBuffer(1, Buffer2);
   SetIndexBuffer(2, Buffer3);
   return(0);
}

int start() {
   int counted = IndicatorCounted();
   int limit = Bars - counted - 1;
   int lookback = 10;
   double sessionOpen = Open[Bars - 1];
   for(int i = Bars - 1; i >= 0; i--) {
      if(TimeDay(Time[i]) != TimeDay(Time[i + 1])) sessionOpen = Open[i];
      double extension = Close[i] - sessionOpen;
      double direction = (i + lookback < Bars && Close[i] > Close[i + lookback]) ? 1.0 : -1.0;
      double atr = iATR(NULL, 0, 14, i);
      Buffer1[i] = atr > 0 ? (extension / atr) * direction : 0;
   }
   return(0);
}
MetaTrader 5 MQL5 TrendDayStrengthMeter.mq5 
// Trend Day Strength Meter
// FreeIndicators.com source example for MetaTrader 5.
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_plots 3

double Buffer1[];
double Buffer2[];
double Buffer3[];

int OnInit() {
   SetIndexBuffer(0, Buffer1, INDICATOR_DATA);
   SetIndexBuffer(1, Buffer2, INDICATOR_DATA);
   SetIndexBuffer(2, Buffer3, INDICATOR_DATA);
   return(INIT_SUCCEEDED);
}

int OnCalculate(const int rates_total,
                const int prev_calculated,
                const datetime &time[],
                const double &open[],
                const double &high[],
                const double &low[],
                const double &close[],
                const long &tick_volume[],
                const long &volume[],
                const int &spread[]) {
   int start = prev_calculated > 1 ? prev_calculated - 1 : 1;
   int lookback = 10;
   double sessionOpen = open[0];
   for(int i = 0; i < rates_total; i++) {
      MqlDateTime dt, prev; TimeToStruct(time[i], dt);
      if(i == 0) sessionOpen = open[i];
      else { TimeToStruct(time[i - 1], prev); if(dt.day != prev.day) sessionOpen = open[i]; }
      double extension = close[i] - sessionOpen;
      double direction = (i >= lookback && close[i] > close[i - lookback]) ? 1.0 : -1.0;
      double atr = iATR(_Symbol, PERIOD_CURRENT, 14);
      Buffer1[i] = atr > 0 ? (extension / atr) * direction : 0;
   }
   return(rates_total);
}
TradingView Pine Script v5 TrendDayStrengthMeter.pine 
//@version=5
indicator("Trend Day Strength Meter", overlay=true)

lookback = input.int(10, "Lookback", minval=1)
newSession = ta.change(time("D"))
var float sessionOpen = na
sessionOpen := newSession ? open : nz(sessionOpen[1], open)
extension = close - sessionOpen
direction = bar_index >= lookback and close > close[lookback] ? 1.0 : -1.0
atrValue = ta.atr(14)
trendScore = atrValue > 0 ? (extension / atrValue) * direction : 0
plot(trendScore, "Trend day strength", color=trendScore >= 0 ? color.green : color.red, linewidth=2)
hline(0, "Neutral", color=color.gray)

Limitations

  • Trend-day conditions can fade quickly after a strong start.
  • The score is based on session-open extension and simple persistence, not a full day-type engine.
  • Different markets need different thresholds to feel useful.

Frequently asked questions

Does it repaint?

This tool can revise its most recent labels or levels until enough bars have formed to confirm the swing or range it is using. Older confirmed values should be more stable than the most recent developing ones.

Which platforms are covered?

NinjaTrader 8, TradeStation EasyLanguage, MultiCharts PowerLanguage, MetaTrader 4, MetaTrader 5, TradingView Pine Script are currently represented through downloads or source pages.

Is source code included?

Yes. This page includes source examples or links to platform-specific source pages where applicable.