The ADX Cloud HTF Signal indicator for Metatrader 5 is based on the average directional index and provides trend trading signals to currency traders.
The indicator analyses the price chart and draws non-repainting buy/sell ADX trend clouds in a separate chart window.
It works as follows:
- The colored green signal cloud generates a buy trade.
- The colored red signal cloud generates a sell trade.
You have the flexibility to modify the following indicator inputs and parameters: indicator time frame, period, alpha 1, alpha 2, and shift.
The ADX Cloud HTF Signal indicator should work well as a standalone signal-generating tool for any trading instrument.
Make yourself familiar with the indicator and test it first on a practice account until you understand how it works.
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adxcloud_htf.mq5 Indicator (MT5)
Chart Example
The picture below illustrates what the ADX Cloud HTF Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The ADX Cloud HTF Signal Indicator?
Find a simple trading strategy below:
Buy Signal
- A colored green cloud generates a buy signal.
- Initiate a buy transaction and add a stop order below the previous swing low.
- Take profit option 1: lock in your profits once a predetermined pips target of your preference is reached.
- Take profit option 2: wait for the next sell signal to execute a trade reversal and exit the buy trade.
Sell Signal
- A colored red cloud generates a sell signal.
- Initiate a sell transaction and add a stop order above the previous swing high.
- Take profit option 1: lock in your profits once a predetermined pips target of your preference is reached.
- Take profit option 2: wait for the next buy signal to execute a trade reversal and close the sell trade.
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adxcloud_htf.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 adxcloud_htf.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
- To access the indicator list, simply open the dropdown menu and select it
- Click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration