The Boom and Crash Gold Miner v2 Trend indicator for Metatrader 5 is a simple-to-use signal indicator based on Boom and Crash trends.
It appears in a separate chart window as a sequence of blue and red colored trend bars.
How does it work?
- A blue-colored trend bar is a bullish signal, it creates a buying opportunity.
- An orange-colored trend bar is a bearish signal, it creates a selling opportunity.
The Boom and Crash Gold Miner v2 Trend indicator should work equally well for scalping, day trading, and swing trading.
The indicator includes several inputs and parameters, such as deviation, trend period, trend power, colors, and more.
It is advisable to become familiar with this technical indicator and thoroughly test it on a demo account for an extended period.
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Boom and Crash Gold Miner v2 Trend.ex5 Indicator (MT5)
Chart Example EURUSD M5
The picture below illustrates how the Boom and Crash Gold Miner v2 Trend indicator looks when applied to the MT5 chart.
How to Buy and Sell Using the Boom and Crash Gold Miner v2 Trend Indicator?
Find a simple trading strategy below:
Buy Signal
- A buying opportunity arises when the colored bar switches back from orange to blue.
- Execute a buy market order and place a stop loss below short-term support.
- Exit the buy trade for a fixed profit target, for example, +15 pips on the 5-minute chart.
- Optionally: await an orange-colored bar to close the buy trade.
Sell Signal
- A selling opportunity arises when the colored bar switches back from blue to orange.
- Execute a sell market order and place a stop loss above short-term resistance.
- Exit the sell trade for a fixed profit target, for example, +30 pips on the 30-minute chart.
- Optionally: await a blue-colored bar to close the sell trade.
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Boom and Crash Gold Miner v2 Trend.ex5 Indicator (MT5)
Trend Following MT5 Strategy with Boom and Crash Gold Miner V2 and Volty Channel Stop
The Boom and Crash Gold Miner V2 Trend Indicator for MT5 identifies strong trend directions specifically for Boom and Crash indices.
When combined with the Volty Channel Stop Indicator, traders can better time entries and exits with dynamic stop levels.
Recommended Timeframes
Best applied on M5 to M30 charts for trend confirmation and trade management.
Strategy Components
- Boom and Crash Gold Miner V2: Detects trend direction and strength with clear signals.
- Volty Channel Stop: Provides trailing stop levels based on volatility channels to protect profits.
Buy Setup
- Wait for an uptrend signal from the Boom and Crash Gold Miner V2 indicator.
- Confirm price is above the Volty Channel Stop line.
- Enter a buy trade once both conditions align.
- Use the Volty Channel Stop as a trailing stop to manage risk.
- Take profit at key resistance or when the trend shows signs of weakening.
Sell Setup
- Receive a downtrend signal from the Boom and Crash Gold Miner V2 indicator.
- Confirm price is below the Volty Channel Stop line.
- Enter a sell trade after confirmation.
- Trail your stop using the Volty Channel Stop indicator.
- Exit near key support or when momentum fades.
Why This Strategy Combo Works
The Volty Channel Stop helps secure profits and minimize losses by dynamically adjusting stop levels according to market volatility, perfectly complementing the trend signals from the Boom and Crash Gold Miner V2.
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 Boom and Crash Gold Miner v2 Trend.ex5 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!
