The 3 MAs Forex Trend indicator for Metatrader 5 transforms 3 moving averages into a powerful colored candle based buy and sell signal indicator.
The indicator offers 4 different moving averages types to choose from.
The transformation into candlesticks makes it easy for everyone to spot buy and sell trade opportunities in any currency pair.
How do the colored 3 MAs candles work?
- A green colored candle is a bullish signal.
- A red colored candle is a bearish signal.
- The gray and orange colored candles are neutral.
The indicator allows customizing the following settings and parameters: fast MA period, medium MA period, slow MA period, method (linear weighted).
For scalpers and intraday traders: deploy the 3 MAs trend indicator on the lower spread Forex pairs for more profit.
Make yourself familiar with this technical indicator and test it first on a demo account before using it on real trading account.
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The following chart shows how the 3 MAs Forex Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The 3 MAs Forex Trend Indicator?
Find a simple trading example below:
- A buy signal is formed when the first green colored candle shows up in the price chart.
- Initiate a buy transaction and place a stop loss below the most recent key support region.
- Close and reverse the buy trade when the first red colored candle shows up in the chart.
- You could also exit the buy trade for a fixed take profit target of your own preference.
- A sell signal is formed when the first red colored candle shows up in the price chart.
- Initiate a sell transaction and place a stop loss above the most recent key resistance region.
- Close and reverse the sell trade when the first green colored candle shows up in the chart.
- You could also exit the sell trade for a fixed take profit target of your own preference.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the 3 MAs Market.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration