The Trade Time Forex indicator for Metatrader 5 draws a time-sensitive box around the candlesticks, enabling traders to identify potential price breakouts.
By setting your preferred start and stop times, the indicator draws a box around the relevant candlesticks.
To effectively use the Trade Time indicator, adhere to these straightforward instructions:
- When a candle closes above the upper boundary of the box, it generates a buy signal.
- When a candle closes below the lower boundary of the box, it generates a sell signal.
This indicator comes with adjustable inputs and parameters, allowing you to customize settings such as trade start time, trade stop time, colors, and filling.
Make yourself familiar with the Trade Time Forex indicator and test it first on a demo account until you fully understand how it works.
It supports all time frames and trading instruments offered by the MT5 charting platform.
Free Download
trade_time.mq5 Indicator (MT5)
Trading Chart USDJPY H1
Here is how the Trade Time Forex indicator appears when applied to the MT5 chart.
How to Buy and Sell With The Trade Time Forex Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given when the candle closes above the previous box’s high price.
- Execute a buy trade and place a stop loss below short-term support.
- Exit the buy position for a fixed take profit target of your preference, or await a sell signal.
Sell Signal
- A sell signal is given when the candle closes below the previous box’s low price.
- Execute a sell trade and place a stop loss above short-term resistance.
- Exit the sell position for a fixed take profit target of your preference, or await a buy signal.
