The Forex Trend Dashboard indicator for Metatrader 5 analyses the trend across multiple time frames and delivers buy and sell trade recommendations for any pair.
It’s based on 3 technical indicators: Stochastic, RSI, and CCI.
The indicator gives a clear overview of how the trend behaves across multiple time frames.
How to trade with the Trend Dashboard indicator for MT5?
- A strong buy signal occurs when all indicators indicate a buy recommendation.
- A strong sell signal occurs when all indicators suggest a sell recommendation.
The indicator includes several inputs and parameters, such as Stochastic settings, RSI settings, CCI settings, time frame settings, alerts, colors, and more.
Before implementing the trend dashboard in live trading, it’s advisable to become familiar with this technical indicator and thoroughly test it on a demo account for an extended period.
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Trend Dashboard Indicator.mq5 Indicator (MT5)
Chart Example EURUSD M5
The picture below illustrates how the Forex Trend Dashboard indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Using The Trend Dashboard Indicator?
Find a simple trading strategy below:
Buy Signal
- A strong buy signal is generated when all technical indicators show a buy recommendation.
- Initiate a buy transaction and add a stop loss below the most recent swing low level.
- Close the buy transaction for a risk/reward ratio of at least 1.5.
- Alternatively, await a sell signal to close the buy trade.
Sell Signal
- A strong sell signal is generated when all technical indicators show a sell recommendation.
- Initiate a sell transaction and add a stop loss above the most recent swing high level.
- Close the sell transaction for a risk/reward ratio of at least 1.5.
- Alternatively, await a buy signal to close the sell trade.
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Trend Dashboard Indicator.mq5 Indicator (MT5)
Multi-Timeframe Trend + Signal MT5 Strategy Using Forex Trend Dashboard + Xmaster Formula
This strategy combines the trend detection power of the Forex Trend Dashboard Indicator with the signal accuracy of the Xmaster Formula Indicator.
The goal is to align multi-timeframe trend confirmation with strong buy/sell entry signals to maximize accuracy and reduce false trades.
Strategy Concept
- Forex Trend Dashboard: Displays real-time trend direction across multiple timeframes for each currency pair.
- Xmaster Formula: Generates filtered buy/sell signals based on price momentum and custom logic.
Timeframes and Markets
- Dashboard Timeframes: M15, H1, H4, D1
- Trade Execution Timeframe: M15 or H1
- Recommended Pairs: EUR/USD, GBP/USD, USD/JPY, and other major pairs
Buy Setup
- On the Forex Trend Dashboard, look for alignment where most timeframes (e.g., H1, H4, D1) show a bullish trend.
- Open the chart for that currency pair and wait for a green buy signal from the Xmaster Formula Indicator.
- Enter the trade at the candle close with the confirmed buy signal.
- Set stop loss below the most recent swing low or a fixed pip buffer (e.g., 20–30 pips).
- Set the take profit based on the next resistance zone or a risk-reward ratio of 1:2.
Sell Setup
- Check the Trend Dashboard for bearish alignment across key timeframes (e.g., H1, H4, D1 all red).
- Wait for the Xmaster Formula to trigger a red sell signal on the trading chart.
- Execute a sell order after the signal candle closes.
- Place a stop loss above the recent swing high or resistance area.
- Take profit at the next support level or trail your stop for extended trends.
Extra Tips
- Only trade when trend alignment is clear across at least 3 timeframes in the dashboard.
- Avoid entering trades against the dominant daily trend.
- This strategy works best in trending markets—avoid flat or ranging conditions.
🔗 Download Xmaster Formula Indicator
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 Trend Dashboard Indicator.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!
