The Boom & Crash indicator for Metatrader 5 is a popular trading tool that delivers trading signals to Forex pairs and a diverse range of Boom/Crash indices.
The indicator draws the buy and sell signal arrows directly on the price chart.
Employing the Boom & Crash indicator is a straightforward process, and it operates in the following manner:
- The blue colored Boom & Crash arrow provides a buy trade opportunity.
- The red colored Boom & Crash arrow provides a sell trade opportunity.
The indicator offers the following customizable inputs and parameters: calculation bars, percentage distance, high/low period, and colors.
Forex scalpers can especially benefit from using this tool during the most volatile trading hours, particularly on low spread currency pairs.
It is always wise to experiment with the Boom & Crash indicator on a demo account first before applying it to a real trading account.
Download Indicator
boom-crash-mt5.ex5 Indicator (MT5)
Chart Example EURUSD M15
The image below shows what the Boom & Crash indicator looks like when applied to the MT5 charting platform.
How To Buy And Sell Forex Pairs With The Boom & Crash Indicator?
Find a simple trading example below:
Buy Signal
- The blue colored Boom & Crash arrow signals a new buy trade.
- Open a buy market order and place your stop loss below short-term support.
- Reverse the buy position when the red colored arrow appears on the chart.
- Alternatively, exit the buy position for a fixed take profit target that suits your trading style.
Sell Signal
- The red colored Boom & Crash arrow signals a new sell trade.
- Open a sell market order and place your stop loss above short-term resistance.
- Reverse the sell position when the blue colored arrow appears on the chart.
- Alternatively, exit the sell position for a fixed take profit target that suits your trading style.
Download Now
boom-crash-mt5.ex5 Indicator (MT5)
Trend Spike MT5 Strategy for Boom and Crash Using Dual Confirmation
This strategy is built specifically for synthetic indices like Boom 1000, Crash 1000, Boom 500, and Crash 500.
It uses the real-time spike signals from the Boom Crash Indicator and aligns them with the trend direction provided by the Boom and Crash Gold Miner v2 Trend Indicator to ensure accurate, low-risk entries.
Strategy Overview
The Boom Crash Indicator delivers precise alerts when price conditions favor a sudden spike, while the Gold Miner v2 Trend Indicator filters these opportunities by confirming the dominant market trend.
This prevents trading against momentum and improves spike timing.
Buy Setup (Crash Markets)
- Ensure the Gold Miner v2 is showing a bullish (uptrend) condition.
- Wait for a Buy signal from the Boom Crash Indicator while the trend remains bullish.
- Enter a buy trade on the close of the signal candle or after a slight pullback.
- Set your stop-loss just below the recent low or a few points under the spike entry candle.
- Target a short spike (5–10 pips) or secure profits as soon as the next major resistance is approached.
Sell Setup (Boom Markets)
- Confirm that the Gold Miner v2 indicates a bearish trend.
- Wait for a Sell signal from the Boom Crash Indicator during the bearish trend.
- Enter the trade once the signal confirms or after a small bounce.
- Place a stop-loss slightly above the recent high or the candle before the spike.
- Take profit after a spike candle or when the price hits a known support zone.
Recommended Conditions
- Best timeframes: M1 and M5 for scalping spikes, M15 for trend clarity.
- Avoid trading during prolonged consolidation or sideways conditions.
- Monitor server connection and avoid trades right before system maintenance or daily resets.
This dual-indicator strategy enhances spike timing and reduces drawdown by filtering trades based on the broader trend.
It’s perfect for scalpers and spike hunters who want more confidence and control in their Boom and Crash entries.
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-crash-mt5.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!
