The Strong Buy and Strong Sell indicator for Metatrader 5 generates strong buy and sell Forex signals based on 4 different time frames.
The time frames used in its calculations are: M15, H1, H4, and D1.
The indicator gets loaded in the price chart as simple-to-use buy and sell signal arrows.
Finding buying and selling opportunities with this indicator is easy and works as follows:
- A green colored arrow represents a strong buy signal.
- A red colored arrow represents a strong sell signal.
This signal indicator should work equally well for any currency pair and time frame.
The indicator includes several inputs and parameters: fast MA, slow MA, investment castle, period multiplier, push notifications, desktop alerts, and more.
It is advisable to become familiar with this technical indicator and thoroughly test it on a demo account for an extended period.
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Trading Chart
The picture below illustrates how the Strong Buy and Strong Sell Forex indicator looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs Using The Strong Buy and Strong Sell Indicator?
Buy Signal
- A buy signal is generated when the green colored Strong Buy arrow is displayed on the chart.
- Execute a buy market order and place a stop loss below the most recent swing low level.
- Close the buy trade for a profit target that suits your preference.
- Alternatively, await a strong sell arrow to close the buy trade.
Sell Signal
- A sell signal is generated when the red colored Strong Sell arrow is displayed on the chart.
- Execute a sell market order and place a stop loss above the most recent swing high level.
- Close the sell trade for a profit target that suits your preference.
- Alternatively, await a strong buy arrow to close the buy trade.
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Momentum Breakout MT5 Strategy with Strong Buy/Sell and Breakout RSI
The Strong Buy and Strong Sell Forex Indicator for MT5 highlights high-probability entry points based on strong market momentum.
When combined with the Breakout RSI Indicator, this strategy captures breakout moves with RSI confirmation for better trade accuracy.
Recommended Timeframes
Ideal for M15 to H1 charts to catch timely momentum breakouts.
Indicators Used
- Strong Buy/Sell Indicator: Signals clear buy or sell moments based on price momentum.
- Breakout RSI Indicator: Confirms breakout strength by tracking RSI crossing key levels.
Buy Setup
- Wait for a strong buy signal from the Strong Buy/Sell Indicator.
- Confirm that Breakout RSI crosses above its breakout level, indicating bullish momentum.
- Enter a buy trade once both conditions align.
- Set stop-loss below recent swing lows.
- Target previous resistance or apply a 1:2 risk-reward ratio.
Sell Setup
- Receive a strong sell signal from the Strong Buy/Sell Indicator.
- Confirm Breakout RSI crosses below its breakout level, signaling bearish momentum.
- Enter a sell trade after confirmation.
- Place stop-loss above recent swing highs.
- Set profit targets near support levels or use a 1:2 risk-reward ratio.
Why This Combo Works
The Breakout RSI Indicator filters entries by verifying momentum strength behind the signals, reducing false breakouts and improving overall trade success.
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 Chances.ex5 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!
