The Bubbles and Drops indicator for Metatrader 5 forecasts the trend utilizing an advanced trading method that works for any currency pair.
The indicator appears in the main chart as colored signal line that uses the following colors: blue and red.
How to interpret the colors:
- A blue colored Bubbles and Drops line forecasts a bullish trend.
- A red colored Bubbles and Drops line forecasts a bearish trend.
This indicator works equally well for scalpers, day traders and swing traders.
The indicator allows customizing the following settings and parameters: number of bars in history, how many bars are show after the chart?
Make yourself familiar with this technical indicator and test it first on a demo account.
Tip: The Bubbles and Drops indicator can complement any trading strategy or system by serving as an additional trend confirmation tool.
It supports all time frames and Forex pairs.
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The picture below illustrates how the Bubbles and Drops Trend Forecaster indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Bubbles And Drops Trend Forecaster Indicator?
Find a simple trading example below:
- The blue colored Bubbles and Drops forecaster line predicts an uptrend.
- Open a buy market order and place your stop 3 pips below support.
- Close the buy trade for a fixed take profit target, or hold and wait for the red colored signal line.
- The red colored Bubbles and Drops forecaster line predicts a downtrend (see chart example above).
- Open a sell market order and place your stop 3 pips above resistance.
- Close the sell trade for a fixed take profit target, or hold and wait for the blue colored 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 bubbles_drops.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