The Forex Trend Averages indicator for Metatrader 5 creates super easy to follow buy/sell trend signals based on the averages trading method.
The indicator is displayed in the activity chart as a green and violet colored signal line that follows the best trend at any time.
The averages indicator works for any time frame, from the M1 price chart up to the monthly.
How to interpret this trend indicator?
- The green colored signal line indicates a bullish trend.
- The violet colored signal line indicates a bearish trend.
The following indicator inputs and parameters can be modified: average and filter period, average method, price, filter size, font, and colors.
Forex Trend Averages work for any trading instrument (Forex, Stocks, Indices, etc.) that can be loaded in the Metatrader 5 platform.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
Free Download
Filtered averages.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Forex Trend Averages indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Forex Trend Averages Indicator?
Find a simple trading example below:
Buy Signal
- The start of the green colored signal line is a buy signal.
- Open a buy trade and place your stop loss 3 pips below technical support.
- Close the buy trade for a fixed take profit target or hold the trade until the trend reverses (violet signal line).
Sell Signal
- The start of the violet colored signal line is a sell signal.
- Open a sell trade and place your stop loss 3 pips above technical resistance.
- Close the sell trade for a fixed take profit target or hold the trade until the trend reverses (green signal line).
