The AMA Forex Power Trend indicator for Metatrader 5 is a two-color line buy & sell technical tool that predicts future currency trends with great precision.
It does not repaint the two-color signal line in any way.
How does it predict future market trends?
- A blue colored AMA Power line predicts an uptrend.
- A tomato-red colored AMA Power line predicts a downtrend.
The indicator allows customizing the following settings and parameters: range, fast period, slow period, count bars, filter.
The AMA Power Trend indicator can be easily combined with other technical indicators but it should perform well as a standalone trading tool.
Make yourself familiar with this technical tool and test it first on a demo account before using it in a real trading account.
Scalpers and day traders will benefit the most from using this tool during the most volatile trading hours.
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The following chart shows how the AMA Forex Power Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The AMA Forex Power Trend Indicator?
Find a simple trading example below:
- The appearance of the blue colored AMA line generates a buy signal.
- Open a long trade and add a stop order just below technical support.
- Exit the buy trade for a risk to reward ratio of at least 1.0, or wait the tomato-red colored line.
- The appearance of the tomato-red colored line generates a sell signal.
- Open a short trade and add a stop order just above technical resistance.
- Exit the sell trade for a risk to reward ratio of at least 1.0, or wait the blue colored line.
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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 AMA_STL_Color.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