The Metatrader 5 Slope Direction Line Signal indicator generates trading signals based on the upward or downward slope of a moving average.
It provides buy and sell trade opportunities through a signal line displayed in two distinct colors.
To explain the trade logic simply:
- A blue slope direction line indicates a buy trade opportunity.
- A red slope direction line indicates a sell trade opportunity.
You can customize the indicator according to your preferences by adjusting the following inputs and parameters: period, method, applied price, shift, alert, mail, and sound.
It is recommended to become familiar with this technical indicator and thoroughly test it on a demo account.
Consider the following tips for scalpers and day trading using the M1 and M5 trading charts:
- To minimize trading expenses, it is advisable to employ the Slope Direction Line indicator on currency pairs that have narrower spreads.
- The London and New York trading sessions offer more frequent trading opportunities to short-term traders.
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slopedirectionline.mq5 Indicator (MT5)
Chart Example
The following image shows how the Slope Direction Line Signal indicator looks when applied to the MT5 charting platform.
How To Buy And Sell Pairs Utilizing The Slope Direction Line Signal Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given when the blue colored slope direction signal line appears on the chart.
- Execute a buy trade and set a stop loss order below the most recent support level.
- Close the buy trade when the red colored signal line gets displayed on the chart.
- Alternatively, you can choose to close your buy position and secure potential profits at a predetermined target.
Sell Signal
- A sell signal is given when the red colored slope direction signal line appears on the chart.
- Execute a sell trade and place a stop loss order above the most recent resistance region.
- Close the sell trade when the blue colored signal line gets displayed on the chart.
- Alternatively, you can choose to close your sell position and secure potential profits at a predetermined target.
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slopedirectionline.mq5 Indicator (MT5)
MT5 Scalping Strategy Using Slope Direction Line Signal Indicator and Olymp Forex Scalper Indicator
Overview
This strategy is designed for fast-paced intraday trading by combining the trend-confirming Slope Direction Line Signal Indicator with the precision entry signals of the Olymp Forex Scalper Indicator.
It is ideal for traders looking to enter high-probability trades during strong short-term market moves.
Timeframe
Best used on M1 and M5 charts for scalping. Also effective on M15 for more conservative intraday trades.
Indicators Used
- Slope Direction Line Signal Indicator – identifies current short-term trend direction and provides early reversal signals.
- Olymp Forex Scalper Indicator – delivers fast entry signals with high precision, especially during momentum surges.
Buy Entry Rules
- The Slope Direction Line turns green, indicating a bullish trend.
- The Olymp Forex Scalper Indicator prints a buy signal (usually a blue or upward marker).
- Enter a buy trade as soon as both indicators align in direction.
- Set the stop-loss a few pips below the recent swing low or below the slope line.
- Use a fixed take-profit target (e.g., 5–15 pips) or trail the stop-loss as new scalper signals appear.
Sell Entry Rules
- The Slope Direction Line turns red, signaling a bearish trend.
- The Olymp Forex Scalper Indicator gives a sell signal (usually a red or downward marker).
- Enter a sell trade when both indicators confirm the direction.
- Set stop-loss above the recent swing high or above the slope line.
- Use a small fixed take-profit or a dynamic exit strategy based on real-time scalper signals.
Tips for Scalping Success
- Use this strategy during high-liquidity market sessions such as the London or New York open.
- Avoid trading during low-volume hours or major news events.
- Monitor spread and slippage—use low-spread pairs like EURUSD, GBPUSD, and USDJPY.
- Stick to strict risk management: 1–2% per trade maximum.
Conclusion
This fast-paced scalping strategy offers excellent timing by combining the trend-smoothing power of the Slope Direction Line Signal Indicator with the rapid-fire signals of the Olymp Forex Scalper Indicator.
Perfect for traders who want to capitalize on micro-trends with precision and confidence.
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 slopedirectionline.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!
