The Drunkard Walk Forex indicator for Metatrader 5 is a complete Forex buy/sell trading strategy that works out of the box for any currency pair.
The indicator generates trend signals in the lower part of the MT5 chart.
The colored green & red clouds indicate the actual buy and sell trend in real-time.
How to trade with it?
- A green colored Drunkard Walk cloud is a bullish signal.
- A red colored Drunkard Walk cloud is a bearish signal.
This strategy should work equally well for any time frame and trade style of your preference.
The Drunkard Walk strategy indicator can be applied to currency pairs, indices, metals, stocks, etc. in Metatrader 5.
The following indicator inputs and parameters can be modified: Drunkard walk period, cloud colors, and style.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
Download Indicator 🆓
Drunkard walk.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Drunkard Walk Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Drunkard Walk Forex Strategy Indicator?
Find a simple trading example below:
Buy Signal
- A new buy signal is given when the green colored Drunkard Walk cloud gets displayed in the chart.
- Open a buy trade and place your stop loss below the most recent support level.
- Close the buy trade for a reward/risk ratio of at least 1.5, or wait for a sell signal.
Sell Signal
- A new sell signal is given when the red colored Drunkard Walk cloud gets displayed in the chart (see chart above).
- Open a sell trade and place your stop loss above the most recent resistance level.
- Close the sell trade for a reward/risk ratio of at least 1.5, or wait for a buy signal.
Download Now 🆓
Drunkard walk.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 Drunkard walk.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
