The Average Trend MTF Forex indicator for Metatrader 5 shows the average trend found for your favorite time frame and provides buy & sell trade signals.
The indicator works on multiple time frame analysis and is displayed as a colored buy/sell line in a bottom chart window.
How to spot a buy or sell trend with this indicator?
- A blue colored line is a bullish trend.
- An orange colored line is a bearish trend.
The indicator does not repaint the signal line and works equally well for newbies and seasoned traders alike.
For scalpers and day traders, it delivers the best signals during the London and American trading sessions.
The indicator contains the following inputs and parameters: time frame, average period, average method, price, acceleration factor, interpolation.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the Average Trend MTF Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Average Trend MTF Indicator?
Find a simple trading example below:
- The start of the blue signal line is a buy signal.
- Initiate a long position and place your stop loss below the previous swing low level.
- Exit the buy trade for a fixed take profit target, or wait for the orange sell signal line.
- The start of the orange signal line is a sell signal.
- Initiate a short position and place your stop loss above the previous swing high level.
- Exit the sell trade for a fixed take profit target, or wait for the blue buy signal 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 Average trend (mtf).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