The ADX Trend Smoothed FX Signal indicator for Metatrader 5 is a reliable trend tool that delivers great entry and exit signals for any pair.
The indicator appears in a separate chart window as a green and red colored trend trading histogram.
Understanding the indicator:
- A green colored trend histogram forecasts a buy market.
- A red colored trend histogram forecasts a sell market.
The following indicator inputs and parameters can be modified: ADX VMA period, price, smoothing period.
For short-term traders, the ADX Trend Smoothed indicator delivers the best signals in the London and New York trading sessions.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
It supports all time frames and Forex pairs.
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The following chart shows how the ADX Trend Smoothed FX Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell FX Pairs With The ADX Trend Smoothed FX Signal Indicator?
Find a simple trading example below:
- A buy signal occurs when the indicator draws the green histogram in the bottom chart.
- Open a buy trade and set a protective stop loss order below the previous swing low level.
- Exit the buy trade when a sell signal gets displayed on the chart (bearish trend reversal), or utilize your own take profit method.
- A sell signal occurs when the indicator draws the red histogram in the bottom chart.
- Open a sell trade and set a protective stop loss order above the previous swing high level.
- Exit the sell trade when a buy signal gets displayed on the chart (bullish trend reversal), or utilize your own take profit method.
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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 Adx trend smoothed.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
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration