The Asymmetric Trend Pressure (ATP) indicator for Metatrader 5 is a buy & sell signals oscillator that measures trend pressure and shows it on the chart.
The indicator can be easily used for spotting both trade entry and exit signals.
How to spot buy and sell trends with it?
- The market trend is up when the ATP oscillator trades above the 0 value.
- The market trend is down when the ATP oscillator trades above the 0 value.
The indicator allows customizing the following settings and parameters: period up, period down, period, show lines up and down.
For M1 and M5 chart traders: deploy the indicator on the lower spread Forex pairs for better and faster profits.
Tip: Swing traders can use the ATP oscillator signals for finding optimal trade entries in trending markets.
It works as follows:
- During an uptrend, only trade the buy signals (cross above 0).
- During a downtrend, only trade the sell signals (cross below 0).
- Avoid counter-trend trading.
Make yourself familiar with this technical indicator and test it first on a demo account before using it on real trading account.
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The following chart shows how the ATP Oscillator indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Asymmetric Trend Pressure (ATP) Indicator?
Find a simple trading example below:
- A buy signal is formed when the ATP indicator crosses back above the zero level.
- Open a buy order and place a stop loss slightly below short-term support.
- Exit the buy trade for a fixed profit target, or wait for the indicator to cross back below zero.
- A sell signal is formed when the ATP indicator crosses back below the zero level.
- Open a sell order and place a stop loss slightly above short-term resistance.
- Exit the sell trade for a fixed profit target, or wait for the indicator to cross back above zero.
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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 ATP.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