The Total Power X Forex indicator for Metatrader 5 delivers solid buying and selling trade opportunities to currency traders.
Total Power X helps traders make informed buy and sell trades in both trending and ranging markets.
The indicator gets displayed in a separate chart window as a blue and magenta colored signal cloud.
Understanding this technical analysis tool:
- The blue colored cloud signals an uptrending market.
- The magenta colored cloud signals a downtrending market.
The following indicator inputs and parameters can be customized: power period, and colors.
The Total Power X indicator works for any trading instrument supported by the MT5 trading platform.
Please make yourself familiar with this technical indicator and test it first on a practice account before using it in a real trading account.
It supports all time frames and Forex pairs.
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TotalPowerIndicatorX.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Total Power X indicator looks when applied to the MT5 chart.
How To Buy And Sell FX Pairs With The Total Power X Forex Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is formed when the blue colored cloud gets displayed in the indicator chart.
- Initiate a buy transaction and place a protective stop below the most recent support zone.
- Exit the buy trade for a fixed take profit, or reverse the buy trade when the magenta X colored cloud appears in the chart.
Sell Signal
- A sell signal is formed when the magenta colored cloud gets displayed in the indicator chart.
- Initiate a sell transaction and place a protective stop above the most recent resistance zone.
- Exit the buy trade for a fixed take profit, or reverse the sell trade when the blue colored X cloud appears in the chart.
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TotalPowerIndicatorX.mq5 Indicator (MT5)
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 TotalPowerIndicatorX.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
