The Angle of Non-Lag MA technical oscillator for Metatrader 5 utilizes moving averages as its foundation and produces real-time buy/sell signals devoid of any delay.
It gets displayed in a dedicated chart window as green and yellow colored histogram bars.
The indicator works well in both trending and sideways moving markets.
How to buy and sell currency pairs with this tool?
- A green colored histogram bar generates a buy signal.
- A yellow colored histogram bar generates a sell signal.
The following indicator inputs and parameters can be modified: MA period, calculation type, price to use, bars for angle, level.
Make yourself familiar with this technical indicator and test it first on a demo account before applying it to a live account.
Worth noting: scalpers and day traders can enhance their profit potential by utilizing the Angle of Non-Lag MA technical oscillator during the London and American trading hours.
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The following chart shows how the Angle of Non Lag MA Oscillator indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Angle of Non Lag MA Oscillator Indicator?
Find a simple trading strategy below:
- A buy trade is confirmed when the green colored histogram bars appear on the chart.
- Initiate a buy market order and put a stop loss below the previous swing low price.
- Exit the long trade for a predetermined pips profit target.
- A sell trade is confirmed when the yellow colored histogram bars appear on the chart.
- Initiate a sell market order and put a stop loss above the previous swing high price.
- Exit the short trade for a predetermined pips profit target.
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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 angle_of_averages.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